Mortgage Calculations

Go to www.mortgage.com or other financial site of your choosing. 

 

Ø  Calculate 2 different type mortgages for a $225,000 home, with 5% down payment, 1.25% property taxes, and insurance costs of $60 a month.

 

Also, in a second calculation to the 2 mortgages you perform; pay an extra $100 a month on the mortgage. 

 

 Tell me when the mortgage will be paid off, and how much is saved in interest?