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2. 15-year vs. 30-year mortgage: Which is right for you? - AOL

   www.aol.com/finance/15-vs-30-mortgage-215934391.html

   You’d spend $411,288 in interest over the course of 360 monthly payments. A 15-year mortgage carries a lower mortgage rate. So, with a $300,000 15-year mortgage at a rate of 6.24 percent, the ...

3. Pros and cons of a 15-year mortgage - AOL

   www.aol.com/finance/pros-cons-15-mortgage...

   But if you chose a 30-year mortgage at a 7.23 percent rate, your monthly payment would be $2,383. While the 15-year loan payments are higher, the total interest would be $201,225, whereas the ...

4. How much house can I afford? Here’s how to do the math. - AOL

   www.aol.com/finance/much-house-afford-math...

   Debt: monthly payments on loans and credit cards Down payment: the portion of the home’s purchase price paid up-front Loan term: the duration of the loan (e.g., 15, 20, or 30 years)

5. Mortgage calculator - Wikipedia

   en.wikipedia.org/wiki/Mortgage_calculator

   The fixed monthly payment for a fixed rate mortgage is the amount paid by the borrower every month that ensures that the loan is paid off in full with interest at the end of its term. The monthly payment formula is based on the annuity formula. The monthly payment c depends upon: r - the monthly interest rate. Since the quoted yearly percentage ...

6. Amortization schedule - Wikipedia

   en.wikipedia.org/wiki/Amortization_schedule

   An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. [1] Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. [2] A portion of each payment is for interest while the ...

7. Amortization calculator - Wikipedia

   en.wikipedia.org/wiki/Amortization_calculator

   Amortization calculator. An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process. The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.