Download presentation
Presentation is loading. Please wait.
1
Loans - Mortgages
2
Amortization Table Just like Credit cards Month Beginning BalancePaymentInterestPrincipalEnd Balance
3
Month Zero to however many months it will take you to pay off the loan Ending Balance Cost of house / condo minus what you “put down”
4
Payment 30 year fixed – the interest rate stays the same for the entire duration of the 30 year loan. 15 year fixed - the interest rate stays the same for the entire duration of the 15 year loan. 5/1 arm – “arm” stands for adjustable rate mortgage, which in this case means that after 5 years the interest rate changes every year (every 1 year)
5
Interest, Principal, and Ending Balance work the same as with credit cards
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.