[Fred Mertz]

How much will your monthly payment be on a 10 year loan?

I hate revealing personal info here, but since you axed....I'm paying about $500 right now per month on my 30 year....I'd pay less than $400 on a 15 year....I haven't figured out the 10 year yet on $50K principal.

[Texas Eagle]

http://www.1728.com/mortpmts.htm

Just fill in the top 3 blanks

[Texas Eagle]

Okay, using the link I provided, figure out how much your monthly payment would be on a 30 year loan and how much it would be on a 10 year loan.

This will be easier if you open 2 or 3 browser windows. Then look at the first years interest on the 10 year loan and the first years interest on the 30 year loan.

If you made the 10 year payments on a 30 year loan, what is the difference in interest you paid in the first year alone?