What will my monthly payments be if I borrow $100,000 for my first home here in Delaware.

What will my monthly payments be if I borrow $100,000 for my first home here in Delaware.

That is a great question! If you borrow $100,000 to buy your first home here in Delaware we use a chart called a Amortization Table that can help you calculate your monthly payments.

You simply divide your loan amount by $1,000 and in this case it is 100.

You then take the interest rate and look up the corresponding "Factor" for it in the chart.

In this case the factor is: 6.0 for a 30 year mortgage. Since the interest rate is 6% in this example.

You then take 100 multiplied by 6.0 to equal $600.00 a month as an estimate.

If you would like a free copy of the Amortization Chart to calculate your mortgage payments, please visit my contact form at: www.FreeHomeSearch.DreamStation.com and I'll provide it to you FREE! Just ask for it!