Originally posted by: ebaycj
With a principal of $800,000.00 at an interest rate of 6.0% for 360 months, you will get a payment of $4800 a month ($4796.41).
However, you SHOULD be able to get SIGNIFICANTLY lower interest rate than 6% if you are even considering a house that costs nearly $1,000,000.00.
ebaycj
Originally posted by: fyleow
Originally posted by: FelixDeKat
6% = 5,775.69 for 30 years
That's not correct, interest keeps compounding monthly
Originally posted by: FelixDeKat
Originally posted by: ebaycj
With a principal of $800,000.00 at an interest rate of 6.0% for 360 months, you will get a payment of $4800 a month ($4796.41).
However, you SHOULD be able to get SIGNIFICANTLY lower interest rate than 6% if you are even considering a house that costs nearly $1,000,000.00.
ebaycj
Uh no. If you borrow more than $327,000 its called a 'jumbo' loan and you pay SIGNIFICANTLY more!