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Guest

how much is the monthly amortization of 2.5m payment for 24months?

Guest

how much is the monthly amortization of house and lot principal amount is 2.5m payment for 5years?

evolovik26 · Posted: Fri Aug 17, 2007 10:54 am Post subject:

that would depend on an interest rate and the term of the mortgage (15 years/ 30 years / 40 years ) also its dependent on what month is it

Niicss · Posted: Fri Aug 17, 2007 1:09 pm Post subject:

Evelyn, there are many amortization calculators listed on this page, you can use them for your purpose - http://www.mortgagefit.com/calculators/

Guest

Hi Evelyn,

I've used the mortgage calculator that Niicss have suggested. It really helped me to find the accurate result. So you too can try it.

Posted: Sun Aug 19, 2007 5:27 am Post subject:

Use caution with the site suggested. The "Get FRM Amortization Schedule" produces strange results. A good test is a 7.00% rate for obvious reasons. The "calculator" falls apart on an $100,000 loan amount even as early as payment #2 and then again in #8 – total of monthly principal and monthly interest amounts is more than P&I. Go figure.

Even with 6.00%, a number which divides without going to infinite repetitions, the "calculator" falls apart in payment #33 with a curious rounding of the interest calculation.

Does meet the "well it's pretty close" standard but for a mortgage site, I'm surprised it wasn't more accurate.

helping_user · Posted: Sun Aug 19, 2007 10:35 pm Post subject:

Welcome Guest.

I'm not sure how you didn't get the right figures. I calculated the mortgage payments with the FRM amortization calculator using the figures you've given. The monthly payment came out to be $1161.08 and that's equal to the sum of P and I. Even the payment no. 2 and 8 seem to be ok. Here's what I got:

Thanks.

Posted: Mon Aug 20, 2007 4:21 am Post subject:

Try 30 year loan and you'll see the problem

Posted: Mon Aug 20, 2007 4:28 am Post subject:

Even on the 10-year, look at the sum of monthly principal and interest payments for payments 15, 17, 23, 26, 29 .....

Very wierd calculator. Hard to simulate whatever is being done.

BrianDelaCruz · Posted: Mon Aug 20, 2007 5:26 am Post subject: RE:

Hi Guest,

Thanks for pointing out the bug in the calculator. A difference in .01 or the like is common in mathematical calculations. But yes, if it's the mortgage industry where people are concerned over payments and the lenders have to get back their monthly installments, it definitely matters. So, I am informing our Technical team about this bug and they shall look into the matter.

Thanks,

Brian dela Cruz

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