Buyer's Guide
Lansing Area Real Estate
REAL ESTATE
 
 

Calculating Your Monthly Payment

This chart will help you calculate your monthly mortgage payment. The amount
shown in the chart is the monthly payment for each $1,000 of your loan.  

 

                   Example: If you borrow $100,000 for 30 years at an interest rate of 6 1/2 percent,
                                your monthly payment will be $6.32 per thousand. Your total monthly
                                mortgage payment** will be 100 x $6.32 or $632. 

**Please note that this payment is only for principal and interest on the mortgage.
    It does not include property tax, homeowner's insurance, or mortgage insurance.
 

Interest Rate 15 Year 30 Year
5% 7.91 5.37
5 1/4 8.04 5.53
5 1/2 8.18 5.68
5 3/4 8.38 5.84
6 8.44 6.00
6 1/4 8.57 6.16
6 1/2 8.71 6.32
6 3/4 8.85 6.49
7 8.99 6.65
7 1/4 9.13 6.82
7 1/2 9.27 6.99
7 3/4 9.41 7.16
8 9.56 7.34
8 1/4 9.70 7.51
8 1/2 9.85 7.69
8 3/4 10.00 7.87
9 10.15 8.05
9 1/4 10.30 8.23
9 1/2 10.45 8.41
9 3/4 10.60 8.60

 

 
Interest Rate 15 Year 30 Year
10% 10.75 8.78
10 1/4 10.90 8.97
10 1/2 11.06 9.15
10 3/4 11.21 9.34
11 11.37 9.53
11 1/4 11.53 9.72
11 1/2 11.69 9.77
11 3/4 11.85 11.10
12 12.01 10.29
12 1/4 12.17 10.48
12 1/2 12.33 10.68
12 3/4 12.49 10.87
13 12.66 11.07
13 1/4 12.82 11.26
13 1/2 12.99 11.46
14 13.32 11.85
14 1/4 13.49 12.05
14 1/2 13.66 12.25
14 3/4 13.83 12.45
15 14.00 12.65

 

 

 
REAL ESTATE
Lansing, East Lansing, Okemos, Haslett, Williamston, DeWitt, Bath, Perry, Holt, Mason, Leslie, Dansville
Stockbridge,  Webberville, Grand Ledge, Charlotte, Olivet, Potterville, Eaton Rapids, St. Johns, Laingsburg, Owosso, Portland

2152 Commons Parkway, Okemos, Michigan 48864

Office:   517-324-3200
Fax:   517-324-3201
Toll Free:   877-326-3772

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