Sunday

September 21, 2014

September 21, 2014

Posted by **tiana** on Friday, November 11, 2011 at 1:11pm.

Escrow payment: $232.78

Principle and Interest payment: $751.90

Total payment: $984.68

Current Loan balance: $121,259.44

Then, answer these questions:

1. Assuming you currently meet your monthly expenses with no left over to speak of, how much more money a month do you need to make in order to pay off your loan in 20 years instead of 25? Is this reasonable?

2. Is it more or less reasonable to consider refinancing your loan? In order to answer this, you need to look at different interest rates. Know that if you refinance, your minimum monthly payments will be based on a thirty-year loan (though you still want to be done in 20 years). Also, refinancing costs you a couple of thousand dollars up front in closing costs.

**Answer this Question**

**Related Questions**

Math 104 - Five years ago, you bought a house for $171,000. You had a down ...

MATH - Five years ago, you bought a house for $151,000, with a down payment of $...

MATH - Five years ago, you bought a house for $151,000, with a down payment of $...

math - Five years ago, you bought a house for $151,000, with a downpayment of $...

math - Five years ago, you bought a house for $171,000. You had a down payment ...

algebra - Five years ago, you bought a house for $171,000. You had a down ...

Algebra - Financial Project Five years ago, you bought a house for $171,000. You...

Algebra: Statistics - Five years ago, you bought a house for $151,000, with a ...

Math Finance please help - Five years ago, you bought a house for $151,000. You ...

Finance - Five years ago, you bought a house for $151,000. You had a down ...