Buyer's Guide
Lansing Area Real Estate
                  REAL ESTATE                                        
 

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

 

 

                                                                          REAL ESTATE

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
 

1651 West Lake Lansing Road, East Lansing, Michigan 48823
 

Office:   517-324-3200
Fax:   517-324-3201
Toll Free:   877-326-3772

Email:
   

   Lawtongroup.com

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