What would be my mortgage payment on a 280000 loan at 4% for 15 years?
Not Financial Advice: Mortgage monthly payment depends on the amortization period and the current interest rate.
At 4% interest rate, your monthly repayment for a $280,000 mortgage is $2,071.13.
- $2,071.13 (paying $372,803.40 in total of which $92,803.40 would be interest) = 15 years
- $1,696.74 (paying $407,217.60 in total of which $127,217.60 would be interest) = 20 years
In the news, US Bank Corp managed to published same mortgage home loan rates on January 30, 2014. Starting with the long term loan offerings, the bank is currently providing its standard, 30 year fixed rate mortgage home loan deals at an interest rate of 4.500% and an annual percentage rate of 4.673%. See more at Morning News USA.