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15 vs. 30 Year Mortgages ...
15 vs. 30 Yr Mortgages
Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.
- Marginal tax rate
- This is your combined state and federal tax rate. This is used to calculate your potential income tax savings by deducting your mortgage interest.
- Monthly payment
- Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.
- Total payments
- Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
- Total interest
- Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Remodeling and Renovations >Kitchen Catastrophe
You have found an almost perfect house--the right number of bedrooms and baths, a wonderful family room, a great back yard. Your pulse rate increases as you imagine your furniture in the living room, your "excess" neatly stored in the huge attic, and your tulip bulbs blooming in the garden. However, the kitchen looks like it was built long before conveniences like dishwashers or microwaves.
If you have fallen in love with a house with an outdated or unattractive kitchen, you should consider renovating it. Contact a contractor for expert advice during the structural contingency period. Re-doing a kitchen can be a major undertaking, especially if you move walls around. If you put in new appliances, cabinets, and flooring into the existing space, it can be done in a shorter period of time and for a small fraction of the cost. Kitchen improvements are considered excellent investments.
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| Q |
What is the largest city square in the world?
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| A |
Located in Beijing, China, Tianamen Square, called the "Gate of Heavenly Peace", covers 98 acres. |
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