2007-01-22 07:33:00 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
As the others said it really does depend on the bank, the value of the property, size of your deposit and length of mortgage,
The best bet would be to either see a mortgage advisor or to type in mortgage calculator on gooogle and then put in the details - this will bring up many places that will calculate the payments for you.
But I would guess about £900-£1000 per month on average.
2007-01-22 07:42:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Try a mortgage calculator, such as the one at http://www.mortgage-calc.com/mortgage/simple.php.
You'll need to know the Principle (or total amount), the interest rate, and the length of time the mortgage will be held for (typically 15, 25 or 30 years).
On top of the mortgage payment, you'll have property taxes, and potentially homeowners insurance.
For example: 151,000 at 5.75% for 30 years would be $881.20 a month, but would likely have an additional $200-$300 for annual taxes.
2007-01-22 07:43:29 · answer #2 · answered by Colin M 3 · 1⤊ 0⤋
Both previous answers are correct. It depends on interest rate, length of mortgage, also the type of mortgage you get i.e. fixed, arm, interest only. (The best mortgage is a fixed), and how much you actually finance. Also remember that the mortgage calculator does not calculate insurance and taxes. I think insurance is $50 for every $100,000 the home is worth and you can find out how much property taxes in your area are by contacting you local appraisal district. Also when you use the calculator put in the interest rate you think you'll get approved for. My interest rate is 6% and my credit score is around 725. My sister's interest rate is around 8% and her credit score was around 650.
2007-01-22 07:50:17 · answer #3 · answered by Roni 5 · 1⤊ 0⤋
Very roughly indeed £7 per thousand. Thus 7 x 151 = 1057. About £1050 a month, but that is an extremely rough and ready calculation.
2007-01-22 07:47:02 · answer #4 · answered by Phish 5 · 0⤊ 0⤋
Assuming 6.25%, roughly the going rate right now, $930/mo. for the mortgage payment (principal and interest), for a 30 year fixed rate.
Add taxes and insurance.
2007-01-22 07:40:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋
go to a bank's website and use the mortgage calculator
2007-01-22 07:37:45 · answer #6 · answered by psychstudent 2 · 1⤊ 0⤋
that depends on your loan term (how long you motgage for) and the interest rate you are paying
2007-01-22 07:37:38 · answer #7 · answered by Queen B 6 · 1⤊ 0⤋