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The Voice of Senior Communities

Senior and Mortgage

Date January 19, 2010 | Print | Bookmark | Share | Email

I hope that your mortgage should have been paid off long before you retire. I know it seems using other people money at lower interest so that you can use your money for better investment make sense. But I still feel having your mortgage paid off is a major heavy load off your shoulder. If you have not paid off your mortgage try to find a way to do it. Here is a simple tool to help you calculate your mortgage.


    This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
    Purchase & Financing Information
    Sale Price of Home: (In Dollars)
    Percentage Down: %
    Length of Mortgage: years
    Annual Interest Rate: %
    Explain Calculations: Show me the calculations and amortization
     



Every dollar saved is two dollars earned.

Category: Money

Last updated on January 19, 2010 with 302 views

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