I know that the cost of Insurance and Taxes is going to depend on the specific area in which a home is located.
I'll have to check on the averages for our area to add that in. Thanks, again... Rick -----Original Message----- From: Rick Faircloth [mailto:[EMAIL PROTECTED] Sent: Wednesday, July 05, 2006 4:01 PM To: CF-Talk Subject: RE: Mortgage Formula Thanks for the reminder, Jim... :o) Rick -----Original Message----- From: Jim Wright [mailto:[EMAIL PROTECTED] Sent: Wednesday, July 05, 2006 2:39 PM To: CF-Talk Subject: Re: Mortgage Formula On 7/5/06, Rick Faircloth <[EMAIL PROTECTED]> wrote: > Is there a consensus on this one? > > M = P * ( J / (1 - (1 + J) ^ -N)) > That looks like it would be the correct formula for determining the monthly payment. Keep in mind that it is just the P and I, the actual payment would also include escrow payments for taxes and hazard insurance (and possibly PMI). -- Jim Wright Wright Business Solutions [EMAIL PROTECTED] 919-417-2257 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:4:245443 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/4 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:4 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.4 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
