Payment Interest Chart
Post date: Dec 15, 2011 5:28:5 AM
It is confusing to get a loan amount with monthly payments and not be able to compare it with different interest rate options; therefore, we created a standard chart for a base loan amount of $100,000 and interest rate ranging from 4.500% to 10.00%. However, these payments may vary depending upon the loan programs and closing costs. The monthly payments are based on a $100,000 loan amount for 30 and 15 year fixed, and ARM programs ranging from 1 year to 10 years.
Disclaimer: The above payment chart is an approximation of the payments. The intent of the chart is to clearly explain a concept with different interest rates; payment amounts may vary for which you may qualify.