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Jean Said:

The pattel family purchased a home and took out a mortgage. Piti payment of the loan?

We Answered:

B. $1932 principal and interest monthly payment + 528.75 month tax &123.25 home owners insurance.

Cassandra Said:

How can I accurately calculate a mortgage payment?

We Answered:

your monthly principle and interest on a $125,000 loan at 6% for 30 years is $745.71 with $635. going to interest and $120.71 to principle in the fist month slowly changing to more princplie then interest over time, the you add taxes, insurence, home owners *** if needed and mi if needed to that

what you figured is almost as if you had a 0% loan

Enrique Said:

How can I figure out how much house I can afford to buy?

We Answered:

Simple. Old method of calculation is 1k monthly for every 100k borrowed. You cannot have a mortgage for more then 150k

Jonathan Said:

How much should we offer on our first home?

We Answered:

Your monthly payment to the mtg company includes principle, interest, real estate tax and insurance. Add to that heat- sewer and water, trash disposal
You currently have a monthly income of 5k, debt of 1500.
3500 left for utilities, food and entertainment. You don't tell us how much of a down payment you have saved nor can we tell what percent the mtg company will charge you. You and your spouse have got to sit down and do some realistic math.
Unless you have a minimum of 30k saved for a down payment I do not think you can afford a house right now.

Clyde Said:

How much will I save if I make a mortgage payment daily totaling to my monthly payments?

We Answered:

Your mortgage company will not accept that. Very few will accept partial payments, and are certainly not going to take 30 payments a month. They generally will accept a partial payment if it is additonal principal added to a full payment. Also, they usually credit you for all payments on the Due Date ... even if you pay it early. This plan is a waste of your time and theirs.

If you want to save yourself money over the long haul, add $50 to each payment. It will make a huge difference in the number of years you pay out.