Figuring out my annual debt service

[Dexter Harris]

Hello I’m new to bigger pockets and Multifamily investing. I’m having trouble on how to figure out my annual debt service or yearly mortgage payments.

Ex... $6,000,000 purchase price with a 25% down payment of $1,500,000. At 6.5% interest rate on the remaining balance of $4,500,000 for 30 years loan. Do I multiply 6.5% of the $4,500,000? I get stuck at this part!!

Thanks, D.Harris

[Tj Hines]

@Dexter Harris there are quite a few calculators out there you can use to help you determine this. We use Michael Blanks SDA analyzer to help with our assumptions. Good luck