Final Loan Amount
Purchase price: $300,000
Down Payment: 25%
Closing Cost: $5,500
Final Loan Amount: $230,500
A $300,000 home loan with 6 points.
Origination Fee: $18,000
You pay $4,503 per month on a 30-year loan. How much do you pay overall?
Overall cost: $1,621,080
Length: 45 feet
Width: 12 feet
Area: 540 square feet
A square with sides that are 42 inches long.
Perimeter: 168 inches
Purchase price: $500,578
Down Payment: 15%
Closing Cost: $856
Final Loan Amount: $426,347.30
A $528,500 home loan with 4 points.
Loan Origination Fee: $21,140
You pay 3,499.38 per month on a 15-year loan. What is the overall cost?
Overall cost: $629,888.40
Length: 12.5 feet
Width: 32 feet
Area: 400 square feet
A rectangle with a width of 12.5 feet and a length of 8 feet.
Perimeter: 41 feet
Purchase price: $116,700
Down Payment: 35%
Closing Cost: $2,800
Final Loan Amount: $78,655
A $411,300 home loan with 8 points.
Loan Origination Fee: $32,904
You pay $2,380 on a 30-year loan and 3,844 on a 15-year loan. What are the overall costs for both loans?
Overall cost for 30-year loan: $856,800
Overall cost for 15-year loan: $691,920
Length: 212 feet
Width: 45 feet
Area: 9,540 square feet
A room with a wall that is 15.3 feet, a wall that is 9 feet, a wall that is 17 feet, and a wall that is 3.4 feet.
Perimeter: 44.7 feet
Purchase price: $1,430,000
Down Payment: 17%
Closing Cost: $10,850
Final Loan Amount: $1,197,750
A $602,333.50 home loan with 7 points.
Loan Origination Fee: $42,163.35
You pay 2,533.80 per month for a 15-year loan.
You pay 1,720.25 per month for a 30-year loan.
What is the difference between the overall costs?
Overall cost for 15-year loan: $456,084
Overall cost for 30-year loan: $619,290
Difference: $163,206
Length: 72.8 feet
Width: 90 feet
Area: 6,552 square feet
A square room with sides that are 6.3 feet long.
Perimeter: 25.2
Purchase price: $256,407
Down Payment: 13%
Closing Cost: $10,830
Final Loan Amount: $233,904.09
A $326,755.42 home loan with 4.5 points.
Loan Origination Fee: $14,703.99
You pay 945.32 per month for a 15-year loan.
You pay 1,998.51 per month for a 30-year loan.
What is the difference between the overall costs?
Overall cost for 15-year loan: $170,157.60
Overall cost for 30-year loan: $719, 463. 60
Difference: $549,306
Length: 8.7 feet
Width: 10.3 feet
Area: 89.61 square feet
A rectangular room with walls that are 14.6 feet wide and 17 feet long.
Perimeter: 63.2 feet