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Help with interest rate calculator?

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Icon Mini Profile willimartha





Joined: 27 Jun 2009

Posts: 57

-0.11 Dollars($)
Post Posted: Fri Jul 17, 2009 11:40 am    Post subject: Help with interest rate calculator?
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Can someone tell me what 272,000 at a 4.5% is? I've used a loan calculator and I'm not matching the number the bank has.
Thanks!
Icon Mini Profile savior70





Joined: 25 Mar 2009

Posts: 1895
Location: Florida
261.84 Dollars($)
Post Posted: Sat Jul 18, 2009 6:00 am    Post subject:
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Hi,

You haven't mentioned the term of your loan. What's your loan term?

You can use the FRM calculator to determine the monthly interest payments. You can also get an amortization schedule, where you'll find the payments towards principal and payments towards interest separately in detail.
Icon Mini Profile dollylee9





Joined: 19 Jul 2009

Posts: 63

-0.14 Dollars($)
Post Posted: Sun Jul 19, 2009 11:51 am    Post subject:
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The bank's payment could also include mortgage insurance. Do you have a Good Faith Estimate? If so, it will breakdown the payment. If you dont have a GFE, get one.
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