30 vs 40-year Mortgage Calculator

30 vs 40-year Mortgage Calculator Calculate Sure, I can create a table comparing 30-year and 40-year mortgage options based on certain estimations. Let’s use some standard assumptions for our calculations: We’ll calculate: First, we can use the formula for calculating monthly mortgage payments: M=P⋅r⋅(1+r)n(1+r)n−1M = \frac{P \cdot r \cdot (1 + r)^n}{(1 + r)^n – … Read more

Refinance from 30 to 15-year Mortgage Calculator

Refinance from 30 to 15-year Mortgage Calculator Loan Amount: Interest Rate (%): Loan Term (years): Results Here’s the table: Year 30-Year Mortgage Payment 15-Year Mortgage Payment Difference 1 $955.00 $1,430.00 $475.00 2 $955.00 $1,430.00 $475.00 3 $955.00 $1,430.00 $475.00 4 $955.00 $1,430.00 $475.00 5 $955.00 $1,430.00 $475.00 6 $955.00 $1,430.00 $475.00 7 $955.00 $1,430.00 $475.00 … Read more