Gather the following facts about your mortgage: the original loan amount, the monthly principal and interest payment and the interest rate. To show how the amortization works, an example 30-year loan with an initial amount of $240,000; interest rate of 5.5 percent and a monthly payment of $...
or PMI. This insurance protects the lender in case you default on the mortgage. It's often required for borrowers with a very small down payment or with less-than-great credit. Your monthly PMI premium is simply added on top of your PITI payment. ...
Enter the mortgage's current payoff amount. Step #2: Enter the mortgage's annual interest rate. Step #3: Enter the principal and interest portion of your monthly mortgage payment. Step #4: Select the month and year the next payment is due. ...
When deciding whether to extend a mortgage, lenders consider the debt-to-income (DTI) ratio more important than having a stable income, paying bills on time, and having a highFICO score. One type of DTI ratio is the front-end ratio. In addition to the general mortgage payment, it also ...
(NOI): The net operating income is calculated by subtracting operating expenses from gross revenue. Gross Revenue: The total amount of rent you receive from tenants annually. Annual Debt Service: The sum of all loan payments per year for principal and interest. In addition, mortgage insurance ...