2007-03-18 06:58:52 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
is this intrest only? per mo??
2007-03-18 16:45:50 · update #1
From the answers you got so far I would say they need instructions on how to use a calculator.
First is the 7% the APR, I would assume not. There are additional costs that go into any loan. I will give you a break and say the APR is 7.35% therefore you would pay $29400 a year or $2450 per month. Don't forget that you are going to have to pay taxes and insurance on top of that. Without know where you are talking lets just add $3600 for taxes and another $1200 for insurance or $4800 a year or another $400 per month bringing your total to $2850 per month.
Lastly, we are in a declining market. It is likely that your house will not be worth as much next year at this time as it is now. That means that you will owe more than it is worth now. Do you really want that?
2007-03-18 08:37:31 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
A cool 28 grand.
2007-03-18 14:08:01 · answer #2 · answered by You Can't See Me 4 · 0⤊ 0⤋
www.dinkytown.net
they have over 250 financial calculators so you can play with their mortgage calculators and crunch an endless variety of numbers.
2007-03-18 15:35:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
400,000 at 7% is 28,000 pa, or 2,262 pm
2007-03-18 14:19:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋