| Lynette
Hensley, Loan Officer Integrated Mortgage |
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Monthly Payments Per
$1000 & Total Cost
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Interest Rate % |
15 Year Term | 30 Year Term | ||
| Monthly Payment | Total Amount | Monthly Payment | Total Amount | |
| 5.50% | 8.18 | 1470.75 | 5.68 | 2044.04 |
| 5.625% | 8.24 | 1482.72 | 5.76 | 2074.36 |
| 5.75% | 8.31 | 1494.73 | 5.84 | 2100.86 |
| 5.875% | 8.37 | 1506.81 | 5.92 | 2129.54 |
| 6.00% | 8.44 | 1518.94 | 6.00 | 2158.38 |
| 6.125% | 8.51 | 1531.13 | 6.08 | 2187.40 |
| 6.25% | 8.58 | 1543.36 | 6.16 | 2216.58 |
| 6.375% | 8.64 | 1555.65 | 6.24 | 2245.93 |
| 6.50% | 8.72 | 1567.99 | 6.33 | 2275.44 |
| 6.625% | 8.78 | 1580.39 | 6.40 | 2305.12 |
| 6.75% | 8.85 | 1592.83 | 6.49 | 2334.95 |
| 6.875% | 8.92 | 1605.34 | 6.57 | 2364.94 |
| 7.00% | 8.99 | 1617.89 | 6.65 | 2395.09 |
| 7.125% | 9.06 | 1630.49 | 6.74 | 2425.39 |
| 7.25% | 9.13 | 1643.15 | 6.82 | 2455.83 |
| 7.375% | 9.20 | 1655.86 | 6.91 | 2486.43 |
| 7.50% | 9.27 | 1668.62 | 6.99 | 2517.17 |
| 7.625% | 9.34 | 1681.43 | 7.08 | 2548.06 |
| 7.75% | 9.41 | 1694.29 | 7.16 | 2579.08 |
| 7.875% | 9.48 | 1707.20 | 7.25 | 2610.25 |
| 8.00% | 9.56 | 1720.17 | 7.34 | 2641.55 |
| 8.125% | 9.63 | 1733.19 | 7.42 | 2672.99 |
| 8.25% | 9.70 | 1746.25 | 7.51 | 2704.56 |
| 8.375% | 9.77 | 1759.37 | 7.60 | 2736.26 |
| 8.50% | 9.85 | 1772.53 | 7.69 | 2768.09 |
Using The Table
This chart covers interest rates from 5% to 8%, and loan terms of 15
and 30 years. Each of the term columns shows the monthly payment
(Principal + Interest), and the total amount you will pay back for
each $1,000 of the loan. Scan down the interest rate column to a
given interest rate, such as 7%; then follow across to the payment
factor for either a 15 or 30 year term. Multiply the factor shown by
the number of thousands in your mortgage amount, and the result is
your monthly principal and interest payment. For the total cost of
holding the loan to term, multiply the number of thousands in your
loan by the Total Amount factor.
In our example, with a loan of $100,000, for 30 years, multiply 6.65
X 100 = $665 per month;
your loan will have a total cost of $239,509 (2395.09 X 100).