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Updated over 6 years ago,

User Stats

22
Posts
3
Votes
Gal Alberman
  • Real Estate Investor
  • New York City, NY
3
Votes |
22
Posts

How to calculate a mortgage pre-payment

Gal Alberman
  • Real Estate Investor
  • New York City, NY
Posted

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? 

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