After much searching and deliberation, Finally I closed in location for
my dream home, it is cave springs a suburbs in Arkansas. It is beautiful
place surrounded by natural beauty, a place where you can get peace
of mind and relaxation at its best. The cost of this house in current
market price of $ 10 million. A 20% down payment is to be made
upfront and remaining amount to be paid in 360 EMI (30 years).
Mortgage loan Data sheet
Down
payment
loan
amount
interes
t rate
ooooooooooooooo. O
f payments
paymen
t
amount
lifetim
e
intrest
2000000
1000000
0
6.68
360
23733
54400
0
3000000
1000000
0
6.68
360
20766
47600
0
2000000
0
1000000
0
7.5
360
23889
60000
0
2000000
1000000
0
6.68
300
28448
53440
0
Impact of changes
1. when down payment is changed from 20 %to 30% , then emi
reduces from 23733 to 20766 and life time interest reduces to
476000 from 544000.
2. When Interest rate is changed from 6.68% to 7.5 % , emi
increases from 23733 to 23889 and overall interest payment
increases from 544000 to 600000.
3. When payment term reduces from 360 to 300 then emi
increases from 23733 to 28448 and total interest decreases
from 544000 to 534400.
