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monthly morgage payment on $400,000

monthly morgage payment on $400,000

Old Aug 1st 2008, 1:47 am
  #16  
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Default Re: monthly morgage payment on $400,000

Originally Posted by longreach View Post
Type of mortgage - YES
Length of time - Only for fixed reates
The length of time also affects the mortgage payment for variable rate mortgages. If your term is 30 years, your monthly payments will be less than if the term is for 20 years.

As several of us have already said in the posts above: Use one of the many mortgage calculators around. You can then play around with amount borrowed, interest rate, term (i.e. how many years the mortgage is for), and whether you want to pay weekly, fortnightly, or monthly.

Gina
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Old Aug 1st 2008, 2:22 am
  #17  
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Default Re: monthly morgage payment on $400,000

hi there

300 000 is around 2400 per month.
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Old Aug 1st 2008, 6:19 am
  #18  
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Default Re: monthly morgage payment on $400,000

Originally Posted by GinaUK View Post
The length of time also affects the mortgage payment for variable rate mortgages. If your term is 30 years, your monthly payments will be less than if the term is for 20 years.

As several of us have already said in the posts above: Use one of the many mortgage calculators around. You can then play around with amount borrowed, interest rate, term (i.e. how many years the mortgage is for), and whether you want to pay weekly, fortnightly, or monthly.

Gina
But not the interest rate which is how I interpreted the question.
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