---

Mortgage Principal

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Sam Site Admin Joined: 21 May 2005 Posts: 813 Location: CALIFORNIA 347.04 Dollars($)	Posted: Sat Apr 03, 2004 3:36 am    Post subject: Mortgage Principal Like 0 Dislike 0 Principal is the original loan amount specified on your mortgage note. When you make the monthly payments on your mortgage, you are required to pay a part of the principal along with the interest and your taxes and insurance payments. The principal also indicates the outstanding loan balance of your mortgage excluding any accrued interest or other fees. Your mortgage may also have the option of prepayment. This allows you to make extra payments towards the principal loan amount at regular intervals of time. Such extra payments reduce your principal loan balance. The interest is calculated on the basis of this outstanding balance. So, you will be paying much low interest when the principal balance keeps on reducing. In addition to this, extra payments towards the principal will also help to shorten the loan period. Related Article Interest: A surcharge on the principal loan balance
Amy Guest	Posted: Mon Apr 13, 2009 8:24 am    Post subject: amortization Like 0 Dislike 0 How do I calculate the amortization chart if the monthly payment is $1,103.79 (principle + 6% interest annually). The loan is 47000.00 in 3yrs.
jerry Moderator Joined: 17 Oct 2005 Posts: 2615 Location: MICHIGAN 415.19 Dollars($)	Posted: Tue Apr 14, 2009 6:21 am    Post subject: Like 0 Dislike 0 Hi Amy, I believe it's a fixed rate mortgage. Right? Well, in that case you can find out the amortization chart using the FRM Calculator. If you have any difficulty in computing, let me know. I will try and help you as much as I can. Thanks, Jerry
leoonthego Joined: 15 Mar 2010 Posts: 2 1.38 Dollars($)	Posted: Mon Mar 15, 2010 8:37 am    Post subject: loking to buy a mobilhome Like 0 Dislike 0 im looking to borrow 60,000 for 30year or a 15 year fixed rate what would be my montly payment
sara Moderator Joined: 05 Jul 2006 Posts: 2645 Location: New Brunswick, New Jersey 488.43 Dollars($)	Posted: Tue Mar 16, 2010 3:04 am    Post subject: Like 0 Dislike 0 Hi leoonthego, Your query has been replied to in the given page: http://www.mortgagefit.com/predeal/about36152.html#155402 Take a look at it. Hope it helps you. Take care. _________________ Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0