The monthly mortgage payment on a 400,000 loan for 30 years amortization period for 5 year fixed mortgage 3.7% rate is $1,834.76. It will cost you 260,000 in mortgage interest if will take that long for you to pay the mortgage. Remember that most of the interest paid in the first 5 years of your mortgage. In order to speed up the payent process you can do double payments or biweekly. If you take the same mortgage with biweekly payments your biweekly payment will be $ 846.11 which is $142 less per month.

This is bad. You may need to transfer to another lender and they would possibly give you a mortgage but with a higher rate. This is an agreement you did with the lender - pay your mortgage on time. Late payment once is not an issue if you talk to them but frequent late payments - you are lucky they did not call in the mortgage as say you are in default of your mortgage. Default means they can start the foreclosure process. If you are in Ontario and you have debts beyond your income, call me and maybe we can restructure your mortgage and debt payments to a more affordable payment program.

If a sports shop sold 1,500 dozen golf balls last week, how many individual golf balls did the shop sell? A. 12,500 B. 18,000 C. 180 D. 125

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I have a 25year mortgage with the first 5 years fixed at a certain percentage. in the next couple of years i will have to renew my mortgage for another fixed 5 years i guess, but will these payments be less than the ones i currently pay?

Completely depends on the rate at which you renew and if there is an increase in property taxes or insurance (if part of your mortgage).

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Hi guys, i am new with this interest and payment thing. can someone jump start and help me out on this question . thank you .. christina just purchased a small four-unit apartment building for $600,000. she financed it with a mortgage loan equal to 75% of the purchase price and paid the equity balance with cash she received from an inheritance. interest on the mortgage loan was charged at 7.3% per annum compounded semi-annually and was to be repaid in equal monthly payments over a 25 year amortization period. the mortgage loan was for an initial term of 5 years at the end of which time it could be renewed at the interest rate prevailing at that time. the mortgage also included a prepayment provision that gave christina the option to pay a lump sum equal to a maximum of 15% of the initial loan principal on each anniversary date, if she chose to. required: what monthly payment will christina have to make to service the mortgage loan?

I'll have to get back to you on the answer, but meantime, try searching the internet for a mortgage calculator. That should help you to figure it out.

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Please help, i moved in with my boyfriend 7 months ago, and pay my way. he split up with his ex back in january, but she didn't move out til april, she stopped paying anything towards the house as soon as she moved out. we do both want to get her off the mortgage, but she wants 3 grand as a payout, ( she didnt actually put down any money at the start of her mortgage, my boyfriend paid the deposit). we can't actually afford this amount of money in one lump sum, but she isn't willing to have monthly payments which we have offered. my boyfriend has been told that if he transfers her off the interest rate will go up from 5% to 7% (or something like that) which means his payments will go up by around £200 a month. or they have said if he keeps on the mortgage with his ex then he can renew it with a new fixed term for 2 years at the lower rate. obviously this seems like the obvious answer but i don't think i am prepared to live there for another 2 years knowing that she still owns half the house. (she has agreed to this) but bearing in mind this girl is crazy, stalks me finds out my mobile number and texts me accusing my fella of cheating on me with her ( even though i know for certain this is not true) please help and advise as i'm at my wits end!!

well all i can say is unless you can come up with a better financial plan quick you will have two years of living hell -- just for kick what would happens to the payment if he replace her with you on the mortgage!!! i am assuming you have excellent credit and a great job!!! should it be a wash i can see see why the two of you could not come up with 3000 pounds!!!

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Hi guys, i am new at doing interest and loan can some one help me just start on this question. thank you christina just purchased a small four-unit apartment building for $600,000. she financed it with a mortgage loan equal to 75% of the purchase price and paid the equity balance with cash she received from an inheritance. interest on the mortgage loan was charged at 7.3% per annum compounded semi-annually and was to be repaid in equal monthly payments over a 25 year amortization period. the mortgage loan was for an initial term of 5 years at the end of which time it could be renewed at the interest rate prevailing at that time. the mortgage also included a prepayment provision that gave christina the option to pay a lump sum equal to a maximum of 15% of the initial loan principal on each anniversary date, if she chose to. required: what monthly payment will christina have to make to service the mortgage loan?

Assuming an initial loan balance of $450,000 (75% of $600,000) and an interest rate of 7.3% per annum compounded semi-annually over 25 years, Christina's monthly payment would be $3,235.66. I used a loan amortization spreadsheet from the DCF Models website for this calculation.