Questions tagged [amortization]
any question related to the amortization of loan. Also refered to as EMI or repayment schedule
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How to calculate what i need to pay each month in a annuity type of loan?
Good or bad, how do get to the same number as the bank web calculator do with the following data:
Money loaned: 2 500 000
Interest: 3.5%
Effective interest: 3.6%
Fee (each payment): 50
Number of ...
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Chase bank is offering to refinance my mortgage at a lower rate: How much do I save?
Chase sent me a package in the mail telling me about this limited offer to refinance my mortgage. I don't know anything about this so I tried myself to run the numbers and was hoping someone could ...
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How inflation factors into a loan amortization schedule
I've been looking at a lot of loan amortization schedules for mortgages lately and wonder how they relate to real dollars over time with inflation.
The calculators I've been using have a calculated ...
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Why are my auto loan payments calculated differently than my mortgage payments?
Last year I got a home loan that follows the standard Rule of 78s amortization schedule. I can easily predict how much of my mortgage payment will go to interest and how much to principal.
A few ...
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Why making additional payment to mortgage counts towards principal? Why does it matter?
When it comes to mortgage advice, some people recommend making an extra payment. The logic is :"These extra payments are automatically applied to your principal, not interest".
Why does it matter if ...
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How do I determine future balance owed on a mortgage based on amortization?
A family buys a house worth 326000.They pay 110 000 down and then take out a 5-year mortgage for the balance at j2 = 6.5% to be amortized over 20 years. Payments will be paid monthly. Determine the ...
Justin
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How do amortization schedules work and when are they used?
Specifically, I notice that on a mortgage statement, my payment is "amortized" so that at the beginning of the loan, I am paying almost entirely interest and very little principal.
However, on a ...
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