Payments
First Mortgage Loans
Phone: (423) 648-3413, Fax: (423) 698-2912, email: epbecu@epbecu.org
Loan Rates
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| The following shows an example of a:
Monthly payment on a loan of: $90,000.00 |
| 8 - Years / 96 pmts = $1,205.10 Total P&I Payback: $115,689.60 Annual Percentage Yield: 6.50% |
15 - Years / 180 pmts = $ 809.10 Total P&I Payback: $145,638.00 Annual Percentage Yield: 7.00% |
30 - Years / 360 pmts = $ 629.10 Total P&I Payback: $226,476.00 Annual Percentage Yield: 7.50% |
| Years (APR) | on $1,000 | on $5,000 | on $10,000 | on $30,000 | on $50,000 | on $100,000 |
| 8 (6.50%) | $13.39 | $66.93 | $133.86 | $401.59 | $669.31 | $1,338.62 |
| 15 (7.00%) | $ 8.99 | $44.94 | $89.88 | $269.65 | $449.41 | $898.83 |
| 30 (7.50%) | $ 6.99 | $34.96 | $69.92 | $209.76 | $349.61 | $699.21 |
|
To use the table, just add the amounts.
For an $87,000 mortgage at 30 years & 7.50%, add: |
| $349.61 | (on $50,000) |
| 209.76 | (on 30,000) |
| 34.96 | (on 5,000) |
| 6.99 | (on 1,000) |
| 6.99 | (on 1,000) |
| $608.31 | (on $87,000) |
| Or, just multiply $6.99 X 87 = | $608.13 |
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