Prepaymentshelp you pay off your loan faster and reduce total interest cost. For starters, define the input cells where you will enter the known components of a loan: C2 - annual interest rate. Divide this number by 12 to arrive at monthly maintenance amount. over 30-years would require you to make additional payments of around 2,100 each month to cut the loan term down to 15 years. If its an independent house, you can assume your annual maintenance expenditure to be about one percent of your home value. Explore how much you may be able to borrow with our affordability calculator. Based on Your Mortgage’s Extra and Lump Sum Calculator, an 800,000 mortgage with an interest rate of 4.5 p.a. ![]() The results will show your approximate monthly payment and help you decide whether. A mortgage calculator will crunch the numbers for you, including interest, fees, property tax and mortgage insurance. Monthly Maintenance Expenses is what you pay to keep your apartment shining, clean and ‘water-full’. It’s a tool to help you better understand your home financing options, whether you’re purchasing a new home or refinancing your current one.Home Insurance is the yearly premium you pay to insure your home-if it isn’t already covered by loan insurance plan.Property Taxes is the annual payment that you grudgingly make to your local municipal body. Want to save money on your mortgage See how you can save thousands over time by adding extra payment of just a few dollars every month to your monthly. ![]()
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