Sentences with phrase «year amortization instead»

Just curious why you did a 20 year amortization instead of 30?

Not exact matches

By increasing the payment by 20 % — which was still lower than what they were paying before and paying bi-weekly instead of monthly, they lowered their interest costs by $ 20,000 over the next 5 years and reduced their amortization from 25 years to 12 years!

If Richardson follows this path, he'll wind up spending about an extra $ 1,000 a year on his mortgage, but he'll slice about five years off the amortization, meaning he'll own his condo free and clear when he's 65 instead of 70.

So what you'd do is use your own Real World amortization schedule, and then manually input the annual interest, principal, and end - of - year liability, and then the program will use these numbers instead of the automatically calculated fixed - rate amortization schedule.

«Despite the short - term, predominately single - tenant lease, the request was for longer - term, low - rate financing without tenant improvement and leasing commission or lease - up reserves and a 30 - year amortization schedule, instead of the more conservative standard of 25 years for commercial properties.

Another way to estimate the impact of extra payments is to use the calculator on this page & generate an amortization table for a shorter term like 22 years instead of 30; then make the associated payments to pay off a 30 - year loan faster.

For mortgages in Canada, the maximum amortization time has changed to 30 years instead of 35 years in the past for new mortgages and refinancing of loans.