Quicken Loans reports a 30-year fixed rate mortgage at 4.9%, a 20-year mortgage at 4.75% and a and a 15-year mortgage at 4.50%. If you want to finance a $218,000 home, how much interest will you save if you refinance your loan for 15 years compared to 30 years? Interest savings $
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
10. Quicken Loans reports a 30-year fixed rate mortgage at 4.9%, a 20-year mortgage at 4.75% and a and a 15-year mortgage at 4.50%. If you want to finance a $218,000 home, how much interest will you
save if you refinance your loan for 15 years compared to 30 years?
Interest savings $
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
