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Quick Reference for Residential and Commercial, Fixed and Variable Rate Mortgages to determine the principal and interest portion of the monthly mortgage payment.
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This mortgage brokerage does not set rates for any mortgage product. You will be presented with marketplace unadjusted wholesale lender rates, based upon the loan programs and features you choose. If you are web savvy, you can browse the rates as easily as I can. What this mortgage brokerage does provide, is a level of service most sought after by experienced borrowers for no additional cost.
Since wholesale lender rates fluctuate on a daily basis, here is a handy chart to keep up with fractional changes in the rates. If you do not have a financial calculator, or do not always have access to the web, print this out. It is not fancy, but it gets the job done!
Example: Rate of 7.500% for 30 years on a $525,900 loan. Divide 525,900 by 1,000 which gives 525.9 which is then multiplied by $6.99 (from the chart) to get the monthly principal & interest payment of $3,676.04. Add to that an amount for monthly escrows, such as, real estate taxes, homeowners insurance, and PMI, to get the total monthly mortgage payment. Additionally, you may also have monthly, quarterly, or annual homeowners association dues or condo fees. Homeowners association dues and condo fees can have a negative impact on the maximum loan amount you qualify for.
Whether you have an ARM, hybrid, convertible, modifiable, balloon, fixed rate, residential, or commercial loan, just use your current, or anticipated, rate and the appropriate "term in years" column. ARMs typically use a 30-year term.
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TERM IN YEARS:___10________15_________20_________25________30
RATE:
4%(4.000%)______10.13_______7.40_______6.06_______5.28_______4.77
4 1/8%(4.125%)___10.18_______7.46_______6.13_______5.35_______4.85
4 1/4%(4.250%)___10.24_______7.52_______6.19_______5.42_______4.92
4 3/8%(4.375%)___10.30_______7.59_______6.26_______5.49_______4.99
4 1/2%(4.500%)___10.36_______7.65_______6.33_______5.56_______5.07
4 5/8%(4.625%)___10.42_______7.71_______6.39_______5.63_______5.14
4 3/4%(4.750%)___10.49_______7.78_______6.46_______5.70_______5.22
4 7/8%(4.875%)___10.55_______7.84_______6.53_______5.77_______5.29
5%(5.000%)______10.61_______7.91_______6.60_______5.85_______5.37
5 1/8%(5.125%)___10.67_______7.97_______6.67_______5.92_______5.45
5 1/4%(5.250%)___10.73_______8.04_______6.74_______5.99_______5.52
5 3/8%(5.375%)___10.79_______8.11_______6.81_______6.07_______5.60
5 1/2%(5.500%)___10.85_______8.17_______6.88_______6.14_______5.68
5 5/8%(5.625%)___10.92_______8.24_______6.95_______6.22_______5.76
5 3/4%(5.750%)___10.98_______8.30_______7.02_______6.29_______5.84
5 7/8%(5.875%)___11.04_______8.37_______7.09_______6.37_______5.92
6%(6.000%)______11.10_______8.44_______7.16_______6.44_______6.00
6 1/8%(6.125%)___11.17_______8.51_______7.24_______6.52_______6.08
6 1/4%(6.250%)___11.23_______8.57_______7.31_______6.60_______6.16
6 3/8%(6.375%)___11.29_______8.64_______7.38_______6.67_______6.24
6 1/2%(6.500%)___11.36_______8.71_______7.46_______6.75_______6.32
6 5/8%(6.625%)___11.42_______8.78_______7.53_______6.83_______6.40
6 3/4%(6.750%)___11.48_______8.85_______7.60_______6.91_______6.49
6 7/8%(6.875%)___11.55_______8.92_______7.68_______6.99_______6.57
7%(7.000%)______11.61_______8.99_______7.75_______7.07_______6.65
7 1/8%(7.125%)___11.68_______9.06_______7.83_______7.15_______6.74
7 1/4%(7.250%)___11.74_______9.13_______7.90_______7.23_______6.82
7 3/8%(7.375%)___11.81_______9.20_______7.98_______7.31_______6.91
7 1/2%(7.500%)___11.87_______9.27_______8.06_______7.39_______6.99
7 5/8%(7.625%)___11.94_______9.34_______8.13_______7.47_______7.08
7 3/4%(7.750%)___12.00_______9.41_______8.21_______7.55_______7.16
7 7/8%(7.875%)___12.07_______9.49_______8.29_______7.64_______7.25
8%(8.000%)______12.13_______9.56_______8.36_______7.72_______7.34
8 1/8%(8.125%)___12.20_______9.63_______8.44_______7.80_______7.43
8 1/4%(8.250%)___12.27_______9.70_______8.52_______7.89_______7.51
8 3/8%(8.375%)___12.33_______9.77_______8.60_______7.97_______7.60
8 1/2%(8.500%)___12.40_______9.85_______8.68_______8.05_______7.69
8 5/8%(8.625%)___12.47_______9.92_______8.76_______8.14_______7.78
8 3/4%(8.750%)___12.53______10.00_______8.84_______8.22_______7.87
8 7/8%(8.875%)___12.60______10.07_______8.92_______8.31_______7.96
9%(9.000%)______12.67______10.14_______9.00_______8.39_______8.05
9 1/8%(9.125%)___12.74______10.22_______9.08_______8.48_______8.14
9 1/4%(9.250%)___12.80______10.29_______9.16_______8.56_______8.23
9 3/8%(9.375%)___12.87______10.37_______9.24_______8.65_______8.32
9 1/2%(9.500%)___12.94______10.44_______9.32_______8.74_______8.41
9 5/8%(9.625%)___13.01______10.52_______9.40_______8.82_______8.50
9 3/4%(9.750%)___13.08______10.59_______9.49_______8.91_______8.59
9 7/8%(9.875%)___13.15______10.67_______9.57_______9.00_______8.68
10%(10.000%)____13.22______10.75_______9.65_______9.09_______8.78
10 1/8%(10.125%)_13.28______10.82_______9.73_______9.18_______8.87
10 1/4%(10.250%)_13.35______10.90_______9.82_______9.26_______8.96
10 3/8%(10.375%)_13.42______10.98_______9.90_______9.35_______9.05
10 1/2%(10.500%)_13.49______11.05_______9.98_______9.44_______9.15
10 5/8%(10.625%)_13.56______11.13______10.07_______9.53_______9.24
10 3/4%(10.750%)_13.63______11.21______10.15_______9.62_______9.34
10 7/8%(10.875%)_13.70______11.29______10.24_______9.71_______9.43
11%(11.000%)____13.78______11.37______10.32_______9.80_______9.52
11 1/8%(11.125%)_13.85______11.45______10.41_______9.89_______9.62
11 1/4%(11.250%)_13.92______11.52______10.49_______9.98_______9.71
11 3/8%(11.375%)_13.99______11.60______10.58______10.07_______9.81
11 1/2%(11.500%)_14.06______11.68______10.66______10.17_______9.90
11 5/8%(11.625%)_14.13______11.76______10.75______10.26______10.00
11 3/4%(11.750%)_14.20______11.84______10.84______10.35______10.09
11 7/8%(11.875%)_14.28______11.92______10.92______10.44______10.19
12%(12.000%)____14.35______12.00______11.01______10.53______10.29
12 1/8%(12.125%)_14.42______12.08______11.10______10.63______10.38
12 1/4%(12.250%)_14.49______12.16______11.19______10.72______10.48
12 3/8%(12.375%)_14.57______12.24______11.27______10.81______10.58
12 1/2%(12.500%)_14.64______12.33______11.36______10.90______10.67
12 5/8%(12.625%)_14.71______12.41______11.45______11.00______10.77
12 3/4%(12.750%)_14.78______12.49______11.54______11.09______10.87
12 7/8%(12.875%)_14.86______12.57______11.63______11.18______10.96
13%(13.000%)____14.93______12.65______11.72______11.28______11.06
13 1/8%(13.125%)_15.01______12.74______11.81______11.37______11.16
13 1/4%(13.250%)_15.08______12.82______11.89______11.47______11.26
13 3/8%(13.375%)_15.15______12.90______11.98______11.56______11.36
13 1/2%(13.500%)_15.23______12.98______12.07______11.66______11.45
13 5/8%(13.625%)_15.30______13.07______12.16______11.75______11.55
13 3/4%(13.750%)_15.38______13.15______12.25______11.85______11.65
13 7/8%(13.875%)_15.45______13.23______12.35______11.94______11.75
14%(14.000%)____15.53______13.32______12.44______12.04______11.85
14 1/8%(14.125%)_15.60______13.40______12.53______12.13______11.95
14 1/4%(14.250%)_15.68______13.49______12.62______12.23______12.05
14 3/8%(14.375%)_15.75______13.57______12.71______12.33______12.15
14 1/2%(14.500%)_15.83______13.66______12.80______12.42______12.25
14 5/8%(14.625%)_15.91______13.74______12.89______12.52______12.35
14 3/4%(14.750%)_15.98______13.83______12.98______12.62______12.45
14 7/8%(14.875%)_16.06______13.91______13.08______12.71______12.55
15%(15.000%)____16.13______14.00______13.17______12.81______12.64
15 1/8%(15.125%)_16.21______14.08______13.26______12.91______12.75
15 1/4%(15.250%)_16.29______14.17______13.35______13.00______12.85
15 3/8%(15.375%)_16.36______14.25______13.45______13.10______12.95
15 1/2%(15.500%)_16.44______14.34______13.54______13.20______13.05
15 5/8%(15.625%)_16.52______14.43______13.63______13.30______13.15
15 3/4%(15.750%)_16.60______14.51______13.73______13.39______13.25
15 7/8%(15.875%)_16.67______14.60______13.82______13.49______13.35
16%(16.000%)____16.75______14.69______13.91______13.59______13.45
16 1/8%(16.125%)_16.83______14.77______14.01______13.69______13.55
16 1/4%(16.250%)_16.91______14.86______14.10______13.79______13.65
16 3/8%(16.375%)_16.99______14.95______14.20______13.88______13.75
16 1/2%(16.500%)_17.06______15.04______14.29______13.98______13.85
16 5/8%(16.625%)_17.14______15.13______14.38______14.08______13.95
16 3/4%(16.750%)_17.22______15.21______14.48______14.18______14.05
16 7/8%(16.875%)_17.30______15.30______14.57______14.28______14.16
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