Mike and Jackie Shulsky, providing real estate services for Lansing, East Lansing, Okemos, Haslett, Williamston, Webberville, Mason, Holt, Leslie, Dansville, Stockbridge, Perry, Laingsburg, Bath, Dewitt, St Johns, Ovid, DeWitt, Grand Ledge, Portland, Potterville, Charlotte, Eaton Rapids,and Olivet.
Mike and Jackie Shulsky's Real Estate Buyer's Guide is a complete reference manual for purchasing a home, investment, or income property in the Lansing and East Lansing real estate market.
  Guide to buying a home in the Greater Lansing area
 

Calculating Your Monthly Payment

This chart will help you calculate your monthly mortgage payment. The amount
shown in the chart is the monthly payment for each $1,000 of your loan.  
 

                   Example: If you borrow $100,000 for 30 years at an interest rate of 6 1/2 percent,
                                your monthly payment will be $6.32 per thousand. Your total monthly
                                mortgage payment** will be 100 x $6.32 or $632. 

**Please note that this payment is only for principal and interest on the mortgage.
    It does not include property tax, homeowner's insurance, or mortgage insurance.
 

Interest Rate 15 Year 30 Year
5% 7.91 5.37
5 1/4 8.04 5.53
5 1/2 8.18 5.68
5 3/4 8.38 5.84
6 8.44 6.00
6 1/4 8.57 6.16
6 1/2 8.71 6.32
6 3/4 8.85 6.49
7 8.99 6.65
7 1/4 9.13 6.82
7 1/2 9.27 6.99
7 3/4 9.41 7.16
8 9.56 7.34
8 1/4 9.70 7.51
8 1/2 9.85 7.69
8 3/4 10.00 7.87
9 10.15 8.05
9 1/4 10.30 8.23
9 1/2 10.45 8.41
9 3/4 10.60 8.60

 

  
Interest Rate 15 Year 30 Year
10% 10.75 8.78
10 1/4 10.90 8.97
10 1/2 11.06 9.15
10 3/4 11.21 9.34
11 11.37 9.53
11 1/4 11.53 9.72
11 1/2 11.69 9.77
11 3/4 11.85 11.10
12 12.01 10.29
12 1/4 12.17 10.48
12 1/2 12.33 10.68
12 3/4 12.49 10.87
13 12.66 11.07
13 1/4 12.82 11.26
13 1/2 12.99 11.46
14 13.32 11.85
14 1/4 13.49 12.05
14 1/2 13.66 12.25
14 3/4 13.83 12.45
15 14.00 12.65

 

 

 

The Lawton Group Real Estate - complete residential and commercial real estate specialist for central Michigan and the Greater Lansing area.
Lansing, East Lansing, Okemos, Haslett, Williamston, DeWitt, Bath, Perry, Holt, Mason, Leslie, Dansville,
Stockbridge,  Webberville, Grand Ledge, Charlotte, Olivet, Potterville, Eaton Rapids, St. Johns, Laingsburg, Owosso, Portland

Serving home buyers and sellers in the Greater Lansing area.

                                              1651 West Lake Lansing Road, East Lansing, Michigan 48823

 517-230-2656  cell
    517-333-2522  office

Email:   mikeandjackie@lawtongroup.com

 

© MShulsky Internet Productions 2007
     LansingMichiganHomes.com

Buying and selling homes in Lansing Michigan

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