How much does he owe?
My boyfriend bought a duplex in Maine in 2009 for 130,000. He's been paying $1300/mo for 11 years. With a 5% interest rate how much does he still owe?[
- roderick_youngLv 72 months ago
Go here https://www.mortgagecalculator.org/ , or google "loan calculator"
and enter 130000 for the home value
enter the down payment value
enter 5 for interest rate %enter the loan term, usually 15 or 30 years
enter the start date of the loan, appropriate month, and 2009 for year
enter 0 for property tax, PMI, Home Insurance, and HOA, unless you know the values
Click the calcuate button, and that should give you a good estimate.
For a better estimate, your boyfriend should look online, or call the loan company for what the remaining principal balance is. Note that this isn't necessarily the amount needed to pay off the loan, there may be other fees involved.
- rickyLv 72 months ago
How long is the loan for?
- SumDudeLv 72 months ago
DEAR GOOGLE - teach me about mortgage calculators !!
- No MercyLv 72 months ago
he should have paid it one year ago