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Updated about 5 years ago,
Figuring out my annual debt service
Hello I’m new to bigger pockets and Multifamily investing. I’m having trouble on how to figure out my annual debt service or yearly mortgage payments.
Ex... $6,000,000 purchase price with a 25% down payment of $1,500,000. At 6.5% interest rate on the remaining balance of $4,500,000 for 30 years loan. Do I multiply 6.5% of the $4,500,000? I get stuck at this part!!
Thanks, D.Harris