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Interest Rates
| Use this handy calculator to help figure
out how much you can afford to spend on a home.
This chart will help you calculate your monthly principal and interest payments
for both fixed and adjustable rate loans at various interest rates over 15 and
30-year terms.
Refer to the sample and instructions below the chart for help.
| Factors
Per $1,000 |
Interest
Rate |
Term
15 Years |
Term
30 Years |
|
4
4 1/8
4 1/4
4 3/8
4 1/2
4 5/8
4 3/4
4 7/8
5
5 1/8
5 1/4
5 3/8
5 1/2
5 5/8
5 3/4
5 7/8
6
6 1/8
6 1/4
6 3/8
6 1/2
6 5/8
6 3/4
6 7/8
7
7 1/8
7 1/4
7 3/8
7 1/2
7 5/8
7 3/4
7 7/8
|
7.40
7.46
7.52
7.59
7.65
7.71
7.78
7.84
7.91
7.97
8.04
8.10
8.17
8.24
8.30
8.37
8.44
8.51
8.57
8.64
8.71
8.78
8.85
8.92
8.99
9.06
9.13
9.20
9.27
9.34
9.41
9.48 |
4.77
4.85
4.92
4.99
5.07
5.14
5.22
5.29
5.37
5.44
5.52
5.60
5.68
5.76
5.84
5.92
6.00
6.08
6.16
6.24
6.32
6.40
6.48
6.57
6.65
6.74
6.82
6.91
6.99
7.08
7.16
7.25 |
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Interest
Rate |
Term
15 Years |
Term
30 Years |
|
8
8 1/8
8 1/4
8 3/8
8 1/2
8 5/8
8 3/4
8 7/8
9
9 1/8
9 1/4
9 3/8
9 1/2
9 5/8
9 3/4
9 7/8
10
10 1/8
10 1/4
10 3/8
10 1/2
10 5/8
10 3/4
10 7/8
11
11 1/8
11 1/4
11 3/8
11 1/2
11 5/8
11 3/4
11 7/8
|
9.56
9.63
9.70
9.77
9.85
9.92
9.99
10.07
10.14
10.22
10.29
10.37
10.44
10.52
10.59
10.67
10.75
10.82
10.90
10.98
11.05
11.13
11.21
11.29
11.36
11.44
11.52
11.60
11.68
11.76
11.84
11.92 |
7.34
7.42
7.51
7.60
7.69
7.78
7.87
7.96
8.05
8.14
8.23
8.32
8.41
8.50
8.59
8.68
8.77
8.87
8.96
9.05
9.15
9.24
9.33
9.43
9.52
9.62
9.71
9.81
9.90
10.00
10.09
10.19 |
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Start by finding the appropriate interest rate, then
look across to the column indicating the desired term of the loan. That number is
the interest rate factor. This is the dollar amount required each month to amortize
$1,000 over the specified term. To calculate your principal and interest payment,
multiply the interest rate factor by the total loan amount in $1,000s.
Here?s an example:
| Interest Rate |
8% |
| Term: |
30 Years |
| Factors per $1,000: |
7.34 |
| Total Mortgage: |
$152,600 |
| 7.34 x 152.6 = $1,120 |
This is a calculation of principal and interest only. It does not include property taxes, insurance, association dues, or other charges.
If you would like our help with this worksheet, ask your Sales Associate or cbbogen@coldwellbanker.com
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