Comments on: How to Calculate Your Mortgage Payment for a Refinance or Purchase http://ptmoney.com/how-to-calculate-your-mortgage-payment-for-a-refinance-or-purchase/ Real Personal Finance for a Life Without Limits! Mon, 13 Feb 2012 05:14:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Cee Howardhttp://ptmoney.com/how-to-calculate-your-mortgage-payment-for-a-refinance-or-purchase/comment-page-1/#comment-10568 Cee Howard Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=6754#comment-10568 Thanks for this very helpful public service.Now for comments on how to get a payoff plan amortized according to the bank's calculations: My husband and I went through 4 different people online, each calculating different results, before appealing to a supervisor who would calculate it and then provide a written copy with a signature we felt we could count on. Do you suppose they like our plans to pay off a mortgage less than they like that monthly interest flow? My best to you. Thanks for this very helpful public service.

Now for comments on how to get a payoff plan amortized according to the bank’s calculations:
My husband and I went through 4 different people online, each calculating different results, before appealing to a supervisor who would calculate it and then provide a written copy with a signature we felt we could count on. Do you suppose they like our plans to pay off a mortgage less than they like that monthly interest flow? My best to you.

]]> By: PThttp://ptmoney.com/how-to-calculate-your-mortgage-payment-for-a-refinance-or-purchase/comment-page-1/#comment-10497 PT Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=6754#comment-10497 @kt - yeah, there are tons of mortgage payment calculators on the web. i even checked my math with one. but it's nice to be able to do it yourself and refresh your math skills. keeps me young. :) @kt – yeah, there are tons of mortgage payment calculators on the web. i even checked my math with one. but it’s nice to be able to do it yourself and refresh your math skills. keeps me young. :)

]]> By: kthttp://ptmoney.com/how-to-calculate-your-mortgage-payment-for-a-refinance-or-purchase/comment-page-1/#comment-10496 kt Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=6754#comment-10496 isn't there a calculator that handles this type of math?? i would think that there is. BTW this was one of the things that i did in college; it was kinda interesting isn’t there a calculator that handles this type of math?? i would think that there is. BTW this was one of the things that i did in college; it was kinda interesting

]]> By: PThttp://ptmoney.com/how-to-calculate-your-mortgage-payment-for-a-refinance-or-purchase/comment-page-1/#comment-10495 PT Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=6754#comment-10495 Good catch, Jared. I took the formula from a page that was displaying the numerator over the denominator. Thus, the parentheses wasn't needed. I should have added it when I converted to a single line. I made the edit above and it's now displaying correctly above. Good catch, Jared. I took the formula from a page that was displaying the numerator over the denominator. Thus, the parentheses wasn’t needed. I should have added it when I converted to a single line. I made the edit above and it’s now displaying correctly above.

]]> By: Jaredhttp://ptmoney.com/how-to-calculate-your-mortgage-payment-for-a-refinance-or-purchase/comment-page-1/#comment-10494 Jared Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=6754#comment-10494 The formula you show isnt quite right. You have: P [ r(1 + r)^n / (1 + r)^n - 1 ] But you need an extra set of parentheses in the denominator: P [ r(1 + r)^n / ((1 + r)^n - 1) ] The formula you show isnt quite right. You have:
P [ r(1 + r)^n / (1 + r)^n - 1 ]
But you need an extra set of parentheses in the denominator:
P [ r(1 + r)^n / ((1 + r)^n - 1) ]

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