This presentation from ForeclosureDeals.com covers how to estimate monthly mortgage payments. Learn how to do it yourself with the help of a simple hand-held calculator.

1. How to Estimate
Monthly
Mortgage
Payments
Contents
It is essential to confirm that your monthly
Introduction ..……………………………1
mortgage payments will be affordable before
Step 1……...………………….…………….2
you buy your home. Only you know how
much money you will have available. Nobody Step 2....…………………….………...…...2
wants to lose a home to foreclosure. If you Step 3..……..………………………….…...2
still do not get access to the easy-going
Step 4…………………………………….…..3
mortgage calculator on ForeclosureDeals.com,
here is a way to estimate monthly payments
using a hand-held pocket calculator.

2. 2
Step 1
Divide the mortgage interest rate you will be paying by 12 to
get a monthly interest rate. An annual interest rate of 6% is
0.5% monthly. Make sure the result that you get makes
sense too.
Step 2
Multiply the value of the loan you seek by the result obtained
above, to get the interest component of your first monthly
payment. For example, the monthly interest on a loan of
$120,000 at 0.5% will be $600.
Step 3
What’s does that mean? Determine how many thousands of dollars there are in your
proposed loan. By way of an example, a $120,000 loan has 120
For more terms and definitions,
check out ForeclosureDeals.com’s of these.
glossary page:
http://www.foreclosuredeals.com/G
lossary.php

3. 3 Step 4
Foreclosure Deals
12550 Biscayne Blvd, Suite 306 Now, do your calculation. Add the monthly interest rate
Miami, FL 33181
FAX: 1-347-402-6620 component to the number of thousands borrowed (600 +
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120) to arrive at a figure of $720. This is not far off the
If it’s not a deal, we won’t list it here!
$719.46 our mortgage calculator worked out
Find us on the Web:
http://www.ForeclosureDeals.com/ automatically.
So far so good. That was not difficult, was it? However,
where is the money that you will need to pay your loan
going to come from? At ForeclosureDeals.com, we like our
clients to succeed, and it matters to us greatly that you
successfully pay off the bargain foreclosure home that you
found on our site. With discipline and self-control, this is
highly possible. If you can afford to pay a bargain that you
found here, go for it. There is nothing better than coming
home to your own home every day.