Coldwell Banker Residential Brokerage Home Buyers Guidebook - 2017 - Page 14

INTEREST RATE FACTOR CHART Financing Your New Home This chart will help you calculate your monthly principal and interest payments for both fixed and adjustable rate loans at various interest rates over 15 and 30 years. Start by finding the appropriate interest rate, then look across to the column indicating the desired term of the loan. That number is the interest rate factor. This is the dollar amount required each month to amortize \$1,000 over the specified term. To calculate your principal and interest payment, multiply the interest rate factor by the total loan amount in \$1,000s. Interest Rate Term 15 Years Term 30 years Interest Rate 4.0 7.40 4.77 8.0 Term 15 Years 9.56 Term 30 years 7.34 4 1 / 8 7.46 4.85 8 1 / 8 9.63 7.42 4 1 / 4 7.52 4.92 8 1 / 4 9.70 7.51 4 3 / 8 7.59 4.99 8 3 / 8 9.77 7.60 4 1 / 2 7.65 5.07 8 1 / 2 9.85 7.69 4 5 / 8 7.71 5.14 8 5 / 8 9.92 7.78 4 3 / 4 7.78 5.22 8 3 / 4 9.99 7.87 4 7 / 8 7.84 5.29 8 7 / 8 10.07 7.96 5.0 7.91 5.37 9.0 10.14 8.05 5 / 8 7.97 5.44 9 / 8 10.22 8.14 1 1 5 1 / 4 8.04 5.52 9 1 / 4 10.29 8.23 5 3 / 8 8.10 5.60 9 3 / 8 10.37 8.32 5 1 / 2 8.17 5.68 9 1 / 2 10.44 8.41 5 5 / 8 8.24 5.76 9 5 / 8 10.52 8.50 5 3 / 4 8.30 5.84 9 3 / 4 10.59 8.59 For example: Interest Rate: 6.5% Term: 30 years Factors per \$1,000: 6.32 Total Mortgage: \$152,600 6.32 x 152.6 = \$964 This is a calculation of principal and interest only. It does not include property taxes, insurance, association dues, or other charges. 5 7 / 8 8.37 5.92 9 7 / 8 10.67 8.68 6.0 8.44 6.00 10.0 10.75 8.77 6 1 / 8 8.51 6.08 10 1 / 8 10.82 8.87 6 1 / 4 8.57 6.16 10 1 / 4 10.90 8.96 6 3 / 8 8.64 6.24 10 3 / 8 10.98 9.05 6 1 / 2 8.71 6.32 10 1 / 2 11.05 9.15 6 5 / 8 8.78 6.40 10 5 / 8 11.13 9.24 6 3 / 4 8.85 6.48 10 3 / 4 11.21 9.33 6 7 / 8 8.92 6.57 10 7 / 8 11.29 9.43 7.0 Find an online mortgage calculator at ColdwellBankerHomes.com. 8.99 6.65 11.0 11.36 9.52 7 / 8 9.06 6.74 11 / 8 11.44 9.62 1 1 7 1 / 4 9.13 6.82 11 1 / 4 11.52 9.71 7 3 / 8 9.20 6.91 11 3 / 8 11.60 9.81 7 1 / 2 9.27 6.99 11 1 / 2 11.68 9.90 7 5 / 8 9.34 7.08 11 5 / 8 11.76 10.00 7 3 / 4 9.41 7.16 11 3 / 4 11.84 10.09 7 7 / 8