Why Do Fixed Loan Interest Payments Vary on Home Equity Loans?

Answer Fixed interest rate loans have the same financing cost for the entire time they are active. However, just because the interest does not vary, the payment amount is not set in stone. Depending on ho... Read More »

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Is the interest tax deductible on a home equity loan?

On One Hand: Limited AmountAs of 2010, you can only deduct the interest on the first $50,000 of your home equity loan. If you file a joint return with your spouse, the limit increases to the intere... Read More »

How much will payments be on a $189,000 home loan with 5.5% interest for 30 years?

Payments on a home loan for $189,000 at 5.5 percent interest for 30 years, not including an escrow account for taxes and insurance or PMI, are $1,073.12 a month.References:Mortgage Calculator

Why Does Principle & Interest Vary Over the Period of a Mortgage Loan?

When you take out a mortgage, you are borrowing money from a lender. You must then make monthly payments to the lender. A portion of you monthly monthly mortgage payment goes toward paying off your... Read More »

Why does principal& interest vary over the period of a mortgage loan?

Principal and interest amounts vary during the course of a mortgage loan because a mortgage is front-loaded with interest, meaning the first installment payment includes the most interest, and the ... Read More »