Download the Mortgage Calculator template here: https://www.jeffsu.org/mortgagecalcu...

 Who knew a 1.5% change in interest rates can result in an additional US$ 100,000 of interest payments?

In this video I go through a stepbystep tutorial on how to calculate your monthly mortgage payments given 3 things: the initial amount you borrowed, the interest rate you agreed to, and the loan repayment period

By playing around with the numbers, you will be able to clearly see how each factor affects the total interest you pay back the bank (or to whoever loaned you the principal)

TIMESTAMPS
00:00 How to Calculate Monthly Payments
00:33 Intro to Mortgage Calculator Template
00:58 Monthly Payment for FixedRate Loan
02:33 Calculate Monthly Interest Payments
04:55 Double Check Your Calculations
05:49 How Interest Rate affects Total Interest
06:17 How Extra Payments affect Total Interest
07:05 Pro Tips for this Mortgage Calculator

RESOURCES I MENTION IN THE VIDEO
Ali Abdaal’s video on buying a house    • Why Buying Is Not Always Better Than ...  

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I'm Jeff, a tech professional trying to figure life out. What I do end up figuring out, I share!

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#mortgage #adulting #amortization