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Home > Money & Services > Mortgages   »   Mortgage calculation

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Old Feb 28, 2007, 10:34 AM
gp3811
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Mortgage calculation
if for every $1000 you pay 608 how much would that be if you borrow $300,000?

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Old Feb 28, 2007, 11:38 AM   #2  
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I believe that you meant to say that for every $1000 the payment is $6.08, not $608. At $6.08 per $1000, assuming a 30 year loan, that would translete to an interest rate of 6.131%. Take $6.08 x 300 = $1824/mo for a $300,000 loan.
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Old Feb 28, 2007, 11:41 AM   #3  
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If you pay x amount per 1000 and you want to find the amount you would pay for $300K, then its simple multiplication.

Windows comes with a calculator under Start>Accessories. I suggest you learn to use it.
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