Interstate Funding Group is a full service nationwide lender specializing in residential, commercial, land, and agricultural loans. Interstate Funding Group manages a substantial private money investment portfolio available for bridge loans, short term debt restructuring, and equity loans for a variety of other situations secured by real property.
Mortgage Calculator
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home’s sale price, the term of the loan desired, buyer’s down payment percentage, and the loan’s interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Refinancing Options
|
SITUATION |
Holding the property indefinitely |
Unsure about the time property will be held |
Holding property no more than 2 to 3 years |
|
Type of refinance |
Full-Cost |
No Points |
No points-No fees |
|
Interest rate |
5.50% |
6.00% |
6.50% |
|
Third-party fees |
$2,500.00 |
$2,500.00 |
0 |
|
Loan points |
$1,550.00 |
0 |
0 |
|
Pro-rated interest, taxes, and insurance |
$1,000.00 |
$1,000.00 |
$1,000.00 |
|
New loan amount |
$155,050.00 |
$153,500.00 |
$150,000.00 |
|
Principal and interest payments (30 year fixed rate) |
$880.07 |
$920.31 |
$948.10 |
Daily Rates