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Lyn Sims

Broker Associate

Monthly Payments Per $1000 & Total Cost   [Principal and Interest Combined]

 

This Mortgage Payment Table will allow you to estimate your monthly principal and interest payments for any fixed interest rate mortgage. You can't reliably use the chart to calculate the monthly payment for an adjustable rate mortgage, except for the initial period; after that, of course, the rate, the term (and the payments) will be different.

This table will also help you see how having a lower credit score can cost you money in your interest rate. The higher your credit score the better terms you can expect from your lender.  Your FICO score is now connected to your interest rate and applied based on that FICO score.