,average monthy repayment on a $400 000.00 loan

brickpak · Joined: 29 Feb 2008 Posts: 1 1.24 Dollars($)

thinking of buying

Guest 0.10 Dollars($)

what is the type of loan here - frm or ARM? and what are the loan term and interest rate? without these details, the monthly payment cannot be calculated.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi brickpak,

Welcome to the forum.

I agree with Mac that it depends upon type of loan that you are try to get, IS it FRM or ARM? If FRM, then is it 30 year fixed rate or 15 year?

Shop a bit for lenders and consult with them. IF you take 30 year FRM then your monthly payments will be lower and more affordable for you..

Best of luck,
Larry

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