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  • Aug 28, 2005, 07:08 PM
    jmusher
    Mortgage
    What will my payment be like on a 80/20 interest loan @7%?
  • Aug 29, 2005, 03:18 AM
    RickJ
    The number of years the loan is amortized is needed for the answer.

    By 80/20 are you saying the loan is for 80% of the purchase amount?

    If so, that part of it doesn't matter. With the percentage and number of years, you can get the interest per $1000 of the loan.

    You can even get an exact amount at an online amortization calculator, like here.

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