How come using Yahoo home loan calculators it seems like I am paying way too much for my current home loan? - home loan calculator
He took a loan of 90K in 6 years and 5.75%. I pay about $ 900 per month on this issue for over 30 years. Computers on Yahoo, but I can say that now a loan of 90K at 6% and pay only $ 540/month over 30 years. What's happening? Do I have taken just to clean it somehow? Is there anything I can do?
Sunday, January 3, 2010
Home Loan Calculator How Come Using Yahoo Home Loan Calculators It Seems Like I Am Paying Way Too Much For My Current Home Loan?
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I agree with others ... Yahoo calculator is only P & I. The importance of principal and interest. The fees you pay is) Piti (taxes on capital and interest of the insurance.
For 900 EUR per month 90K makes no sense, but. It's huge. This would pay for some 45% of your salary to other things, then P & I should be around 20-25% at most.
Are you sure that is your fix? In trying to understand why wages are so high, the calculation with Piti. Your way way way high. The last 6 years, it is likely that you have no mortgage insurance. So we only have taxes and risk. It only makes sense if there is a home loan 90K worth of 300K, or maybe your insurance for a flood or earthquake.
I would see their payments and what is included in the price. Their is no reason to give money to your bank to pay their bills. They're coming. Kill your escrow account. They only give money without interest for a year to pay their bills. You do not need. Then, your payment may be more likIng Remember, if you your risk and you pay taxes when due.
Good luck.
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