If it were a mortgage if the dwn pmt is $ 250,000. And mortgage is $ 50,000.?

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I tried to buy a mortgage on a home computer, work lists for $ 300,000.00. I have a deposit of $ 250,000.00. The calculator displays a negative amount of the mortgage. If the loan is a mortgage? Thank you!
I look forward to a house and the estate agency, now that I look at a mortgage calculator on their website. Here are Zahlen.home: $ 100.000Anzahlung: 5.000Darlehenslaufzeit: 30 years Annual Interest Rate: 5% of the monthly payment is: $ 510 … How exactly does this sound. Do I pay each month?

12 Comments
  1. Reply
    Sharon T
    February 7, 2011 at 8:52 pm

    If a loan is secured by real estate, it is called a mortgage in most states.

  2. Reply
    sfmca5
    February 7, 2011 at 9:04 pm

    Yes, putting $ 250,000.00 down on a $ 300,000.00 home would leave you with a $ 50,000.00 mortgage.

  3. Reply
    rtfm
    February 7, 2011 at 9:35 pm

    You’re doing something wrong. I just entered a loan balance of $ 50K on a $ 300K house into a mortgage calculator, and it came out to a payment of $ 388 a month, including taxes.

    Any loan for the purpose of buying a home is a mortgage. It doesn’t matter what the amount is.

  4. Reply
    Doug
    February 7, 2011 at 10:29 pm

    If you used a business calculator then the payment would appear as a negative number. This includes using Excel or another spreadsheet program.

    The current value (amount of the mortgage) is an asset (positive number) and your payment is a liability (negative number).

  5. Reply
    Tony
    February 7, 2011 at 10:55 pm

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  6. Reply
    Nydia
    February 7, 2011 at 11:47 pm

    try this site (i’ve used it): http://infofinance12.notlong.com/4AAZ0WI

  7. Reply
    timothy p
    February 8, 2011 at 12:36 am

    Those are accurate numbers for financing 95,000 for 30 years at 5%. The calculators are only as accurate as the numbers you feed them. A lot of them don’t include things like PMI, homeowners insurance and other items that you will have to put in escrow.

    Don’t forget you will likely have to pay for appraisals, inspections and closing costs.

  8. Reply
    Froufrou
    February 8, 2011 at 12:50 am

    Very accurate, if you use it correctly. The $ 510 is the P&I – principal and interest. You have to add taxes and insurance and MIP.

    And, usually it’s 10% down…?

  9. Reply
    Ross
    February 8, 2011 at 1:46 am

    The calculator will be correct as long as you put the correct info into it.

  10. Reply
    golferwhoworks
    February 8, 2011 at 2:18 am

    Tim is correct here. Almost all loans with a loan to value ratio >80% will require the impounds of taxes, insurances and yes that includes MIP or PMI
    I am a mortgage banker in TN

  11. Reply
    peter p
    February 8, 2011 at 2:56 am

    what tim said

  12. Reply
    BuyingHelp
    February 8, 2011 at 3:49 am

    That’s a Great Question!

    1. Defiantly take into account for Closing Costs.
    (If Purchasing: A Home)
    When making your contract with the seller or with a trusted Realtor; request a 6% seller concession, and that will assistance a huge part of your closing costs, if not all.

    Example:
    Home cost: 250K
    Seller pays 6% towards closing = $ 15,000 paid for by the seller at closing…

    2. Yes, as far as the 80/20…Mortgage Calculators give you a somewhat fair idea of what the payment will be or an estimated average rate for a second mortgage. But it all depends on where you are with your credit rating, how much the second mortgage is, etc…

    3. I would give the Mortgage Calculators a 6 out of a 10 on reliability…Definitely talk to a Loan Officer and get exact figures…

    Most banks and lenders give a Free Application.

    I hope this was helpful!

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