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Which mortgage loan is better |
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Written by Allen Dover
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Tuesday, 08 November 2005 |
 | Which loan is better ? |  | | | | | First Loan Information
Loan Ammount ($)
Interest rate (%)
Length of Loan (Yrs)
Discount Points (%)
Origination Fee (%)
Closing cost ($)
| | | Second Loan Information
Loan Ammount ($))
Interest rate (%)
Length of Loan (Yrs)
Discount Points (%)
Origination Fee (%)
Closing cost ($)
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 | Results |  | | | | | | First Loans | Second Loan | | Monthly Payment: | $1,100.65 | Monthly Payment: | $1,048.82 | | | | | | | Origination fee: | $0.00 | Origination fee: | $1,500.00 | | Discount Points: | $1,500.00 | Discount Points: | $1,500.00 | | Closing Cost: | $1,000.00 | Closing Cost: | $1,200.00 | | Total Closing Cost: | $2,500.00 | Total Closing Cost: | $4,200.00 | | | | | | | Total paid (P+I): | $396,232.87 | Total paid (P+I): | $377,575.83 | | Real APR: | 8.18% | Real APR: | 7.79% | | | |  | |  |
 | Instructions | | | | | | This simple calculator calculates difference between your monthly payment based on your input.
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Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts. |
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Last Updated ( Tuesday, 11 July 2006 )
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