Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
How to calculate a mortgage pre-payment
Hi all,
I want to submit an offer to a landlord, and trying to make a rough estimation on how much does he still owes on the house. we currently have no mortgage statement in hand.
I do have this info:
- mortgage is from Jan 2012
- loan amount is 465K
- interest is 4% fixed
- monthly payment is $2,222 (principal and interest)
- I used a calculator and found out it's a 30 years amortization (not sure)
- he was never been behind on payments
- he can prepay in the beginning of every month with no penalty
based on the above, can we estimate how much does he has left to pay?