Mortgage - Free Calculators

Getsmart - This firm offers you quotes for a Refinance. It is a service of Lending Tree. You should be able to learn more about your loan options.

Loan Background

The mortgage scenario is for February 11, 2007.

The name of the loan applicant is Fred.

This mortgage is to get a refinance on the property.

Property Basics

This property would be identified as a single family residence.

This real estate is in Loma Linda, California.

On the mortgage application this property would be identified as a rental property.

The Loan Type

The loan has a length in years of 30.

The middle credit score on the credit report is 740.

The documentation level for this mortgage will be full documentation.

Today's current interest rates

The example mortgage rate on this new loan will be 6.25%.

The APR is 6.35%.

The Loan Amount

This real estate is currently appraised at around $396,250.

The mortgage on the property is a $253,600.

The total borrower cash out will be around $63,400.

The new mortgage loan will be for $317,000.

The loan to property value (LTV) ratio on the property is 80%.

Calculated Mortgage Payment

The payment each month is $1,952.

An interest only monthly loan payment would be $1,651.

In this example the interest only payment is lower than the regular payment by $301. 

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300 LOAN TIPS