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Updated over 4 years ago,
Estimating Mortgage on paper?
Would like to practice analyzing deals at work without access to the internet (then later check my numbers when I get home).... I have access to a calculator though... Basically would I'd like to know is how to calculate a mortgage payment on the very very basic level... No taxes/insurance/hoa etc... I googled this and the formula they give is a little confusing.... Can anyone provide a basic way to calculate this saying using 30yr terms and 7% yearly interest? I know the monthly interest breaks down to .0058... Need help with the other numbers, thanks