There has been so much talk about the super low interest rates that I thought you might be interested in seeing how it affects your payment. So, I calculated these payment amounts as principle and interest in a matrix with loan amount going down on the left and interest rate across the top. So if you were getting a $150,000.00 30 year fixed rate mortgage loan at 8.00% your payment would be $1,101.00. What is striking is that you see that your payment almost doubles from 4.5% to 10%. Read the rest of this entry »
Joel Garcia
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