Adding my loan to my mortgage?
My Mortgage is lb300 a month and the interest rate is 4.4%
If i were to add in the region of lb5,000 to my Mortgage how much roughly would i pay per month
Answers:
Do you mean you want to re mortgage ?
how many years ? what the conditions of your mortgage ?...
not sure I get hold of your question. Source(s): http://www.financecomparator.co.uk/
It depends how long your mortgage has left to run - eg:
if 25 years gone it will cost lb27.51 more as long as the rate stays 4.4%
if 20 years left it will cost lb31.36 more as long as the rate stays 4.4%
For other values of term etc use this fair-minded calculator:
http://www.moneymadeclear.fsa.gov.uk/too…
For responsible borrowers, paying off loans, especially credit cards, by increasing your mortgage is a great way to preserve your monthly loan payment costs as low as possible - this is what I did. However, be very watchful you don't get into a cycle of running up too much debt and adding it to your mortgage and never in fact being able to pay envelope off your mortgage - this would be a bad article.
not nearly enough info to answer press -- what is you balance due -- how long do you want to make payments == what will be your modern interest rate -- give those facts and someone should be able to plug contained by a formula and out pops a number!
Related Questions:
Should I stay away from a second mortgage interest merely loan?
I've been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I've be told that the 2nd loan is Home equity line of credit....
If i were to add in the region of lb5,000 to my Mortgage how much roughly would i pay per month
Answers:
Do you mean you want to re mortgage ?
how many years ? what the conditions of your mortgage ?...
not sure I get hold of your question. Source(s): http://www.financecomparator.co.uk/
It depends how long your mortgage has left to run - eg:
if 25 years gone it will cost lb27.51 more as long as the rate stays 4.4%
if 20 years left it will cost lb31.36 more as long as the rate stays 4.4%
For other values of term etc use this fair-minded calculator:
http://www.moneymadeclear.fsa.gov.uk/too…
For responsible borrowers, paying off loans, especially credit cards, by increasing your mortgage is a great way to preserve your monthly loan payment costs as low as possible - this is what I did. However, be very watchful you don't get into a cycle of running up too much debt and adding it to your mortgage and never in fact being able to pay envelope off your mortgage - this would be a bad article.
not nearly enough info to answer press -- what is you balance due -- how long do you want to make payments == what will be your modern interest rate -- give those facts and someone should be able to plug contained by a formula and out pops a number!
Related Questions:
Should I stay away from a second mortgage interest merely loan?
I've been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I've be told that the 2nd loan is Home equity line of credit....