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Principal & Interest Payment Factors
Monthly Principal and Interest Rate Chart
If you're looking to buy a home or refinance the one you already own, this chart will help you determine a fully amortized principal and interest payment. My hope is this table will help you stay within your price range or payment goal. This chart only calculates the principal and interest payment only.  This chart does not calculate property taxes, home owners insurance, private mortgage insurance (PMI) or association dues.  If you are purchasing a home, a Realtor, builder or even I will be able to provide the remaining payment details.  To calculate the principal and interest portion of the monthly payment, first divide the loan amount by $1,000. Then multiply that number by the principal and interest payment factor. For example, if a $150,000 loan amount is desired on a 20 year fixed rate, then follow these steps:
1.     $150,000 / $1,000 = $150
2.     20 year loan @ 5.500% = 6.88 P&I Factor
3.     6.88 P&I Factor x $150 = $1032 per month
For interest only loans, a chart is not necessary.  Simply multiply the rate by the loan amount and divide by 12.  For example, a $150,000 loan amount with a rate of 5.500% would be ... more

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