Adjustable rate mortgage loan - PowerPoint PPT Presentation

Title: Adjustable rate mortgage loan


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All Western Mortgage

• How Mortgage Lenders Calculate the Amount of
  Monthly Installments?

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• For most type of mortgages, lenders or bankers
  calculate your monthly installment amount,
  comprising of interest and the principal, by
  using a standard formula, duration and terms and
  requirements of your loan.

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Fixed-rate mortgage loan
A fixed rate loan installment amount is
calculated in a manner that if you keep the loan
for the entire term (be it 15, 20, 30 years etc.)
and make all of your payments on time, the loan
will be paid off precisely at the end of the term.
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Fixed-rate mortgage loan
The monthly payments youll make will depend upon
the principal amount of the loan, interest rate
and duration of the loan. You can use All Western
Mortgages different mortgage calculators to
calculate the monthly installments for different
scenarios.
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Adjustable rate mortgage loan
If you have taken a hybrid adjustable rate loan,
your monthly payments for the initial years are
calculated using the standard mortgage payment
calculators, assuming that your initial interest
rate remains fixed for the entire duration of the
loan.
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Adjustable rate mortgage loan
When the time comes to adjust your interest rate,
your monthly payments get re calculated on the
basis of the new interest rate and the remaining
term of the loan.
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Refinancing your mortgage
If you plan on refinancing your mortgage, your
existing loan gets paid off and is replaced by a
new loan. Your new monthly payments get
calculated on the basis of new loans term, new
interest rate and the remaining principal amount.
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Refinancing your mortgage
You can use All Western Mortgages refinance
mortgage loan calculator to know your net savings
on refinancing and the amount of revised monthly
installments.
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Visit http//www.awmlending.com/calculators-mortga
ge.php to use All Western Mortgages user
friendly and free of cost calculators.
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All Western Mortgage
Contact us

• Address
• 8345 W Sunset Rd, Suite 380Las Vegas, NV  89113
• Phone 702-850-2790
• Corporate 702-369-0905
• Fax 702-906-0153
• E-mail info_at_awmlending.com
• Website
• http//www.awmlending.com/