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Have mortgage payment calculations changed since March 2007?

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Icon Mini Profile luceyj





Joined: 26 Sep 2008

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Post Posted: Fri Sep 26, 2008 12:36 pm    Post subject: Have mortgage payment calculations changed since March 2007?
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I am in a land contract and I am trying to reproduce the the amortization table, but I find every amortization calculator shows a $200 difference than the amortization that was calculated in March of 2007.
Icon Mini Profile sweeney
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Post Posted: Fri Sep 26, 2008 1:16 pm    Post subject:
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Hello- Nothing has changed with calculating an amortization schedule. Are the settings identical, specifically, is each calculator using end of period payments to calculate. That could be throwing you off.
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Mike Sweeney
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views expressed on this forum are my opinion as a mortgage professional, not legal advice
Icon Mini Profile chrisburns
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Post Posted: Fri Sep 26, 2008 3:02 pm    Post subject:
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can't imagine why it would be different now?
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Chris Burns
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Icon Mini Profile smithsussane
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Post Posted: Fri Sep 26, 2008 8:48 pm    Post subject:
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Hi luceyj!

Welcome to Forums!

I do not think anything on this regard has changed since March 2007. You can click on the following to get a amortization calculator :

http://www.mortgagefit.com/calculators/

Feel free to ask if you have further queries.

Sussane
Icon Mini Profile lisascherzer



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Post Posted: Tue Sep 30, 2008 1:10 am    Post subject:
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nope, nothing has changed. It is mathmatical calculation. You may have not considered taxes and insurance. A amortization schedule will only give you principle and interest payments. Or you could have used an interest only calculator at that time.
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