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Old 08-06-2013, 01:30 PM   #21
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Join Date: Jul 2005
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Originally Posted by Independent View Post
I find the mortgage rate amazing. You're saying that on a $100,000 loan your interest and principal payments are just $271 per month (or $3,252 per year)?
Who said that?

"I have a big mortgage at 3.25% that I will not be paying off anytime soon. Scaling the value, lets say I borrowed $1M and it costs $4352.06 per month, $52,224.72 per year principal and interest. "

Scaling that to $100,000 gives 435.21/month and $5,222.47/year, principal and interest.
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Old 08-06-2013, 09:01 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Oct 2006
Posts: 3,820
Quote:
Originally Posted by Animorph View Post
Who said that?

"I have a big mortgage at 3.25% that I will not be paying off anytime soon. Scaling the value, lets say I borrowed $1M and it costs $4352.06 per month, $52,224.72 per year principal and interest. "

Scaling that to $100,000 gives 435.21/month and $5,222.47/year, principal and interest.
Oops. I was so focused on the amazing 3.25% that I somehow glazed over the dollar amounts.

Yep, you've got a mortgage rate so low that you could make money on an SPIA.
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