Updated over 6 years ago on . Most recent reply
Mortgage Payment "FORMULA" ?
What is the Formula to figure out what your monthly Mortgage payment ( including Interest,Taxes,Insurance ) will be ( assuming a 3.5% Interest Rate and a Good Credit Score of 700 to 750 )? I narrowed it down to multiplying the Price to pay for the house and multiply it by .007%.
Assuming a $100,000 purchase Price for the house x .007% = a $700 monthly mortgage payment
Does this seem accurate as far as a Formula goes to figure it out?
Thank you