Buy to Let Building Insurance » Monthly

I’m paying $63 a month on home insurance on a home that cost 130,000 built in 2003. Is my monthly payment alo?

Editor — Tue, 24 Aug 2010 11:30:12 +0000

my home owner insurance went up

If i made a claim on my contents insurance for a laptop would my monthly payments go up?

Editor — Tue, 20 Jul 2010 06:11:52 +0000

Calculus: A car costs $20,000 and bank loan is 8% compounded continuously interest. What are monthly payments?

Editor — Sat, 08 May 2010 12:02:42 +0000

A car costs $20,000 and the bank loan is 8% compounded continuously interest. What are monthly payments?

The cost of the car is the present value of a constant money stream(dollars per year). The monthly payment is the annual payment divided by 12
for 5 years, forgot to mention it

what is the average monthly elecetricty and water bill?

Editor — Wed, 14 Apr 2010 01:28:05 +0000

for a hair salon serving about 15 customers a day

water =

electricty=

separately

i just want a reaaaaally rough estimate

and what do you think a good estimate firgure for contents and building insurance would be

thank you
i live in the uk south

Do Buy To Let Mortgages Generally Have Higher Monthly Payments Than If You Were Living In The Property?

Editor — Thu, 17 Sep 2009 08:10:58 +0000

I want to rent out the flat that I live in but have been told by the estate agent that I would need to let my mortgage provider know. Do you think I would need to get a new mortgage to do this and would the monthly payments be likely to increase? Thanks

Is it a Better Idea to Make your Home Loan Payments Weekly, Every Two Weeks, or Monthly? – PrÃªt HypothÃ©caire

Editor — Sun, 06 Sep 2009 16:24:01 +0000

You have probably heard that it is better to make your home loan payments as frequently as possible. How can we best understand this concept?

Let us look at the two different ways of making weekly or twice monthly payments (prÃªt hypothÃ©caire).

-accelerated weekly payments

-minimum weekly payments

The most common method is the accelerated weekly payment. It is really the monthly payment divided by 4. But in reality, there is not 4 weeks in a month, but a little more. This method is called the accelerated payment method because is has 4 extra weekly payments over a whole year and this fact by itself increases the payment made against the capital of the home (prÃªt hypothÃ©caire) loan during the year.

The other method is the minimum weekly payment. It is the minimum payment that you can make on your mortgage until the end of the amortization period, and the home loan is fully paid.

It is clear that the savings from these different two mortgage payment (hypotheque) methods is not alike. The minimum weekly payment only increases the frequency of the payments from 12 times a year to 52 times a year, and the accelerated weekly payment increases not just the frequency of payments, but also adds 4 additional payments.

Letâs look at the result of my studies on mortgage payments for these two cases.

The minimum weekly payment

Summary:

1. The minimum weekly payment method saves $1,294.12 on a $200,000 loan amortized over 25 years with an interest rate of 5.4%, in comparison with monthly payments – hypothÃ¨que.

2. The higher the interest rate, the better the weekly payment will fare. If the rate is doubled, the savings will be 7.08 times more.

3. One receives 43% more savings with a weekly payment than with a payment every two weeks (14 days) and the rate of interest does not make a difference.

Why?

The explanation is simple, but difficult to describe. Since there is less time between each payment, one part of the capital is repaid a few days earlier, which more rapidly reduces the interest paid on the amount that is paid down. The savings is small for each payment but increases dramatically over time.

Conclusion: The more frequent the payments, the greater the savings, even if you do not increase the amount paid. If it is possible, make your payments each week, if not, pay your mortgage every two weeks – prÃªt hypothÃ©caire.

The accelerated weekly payment

An accelerated weekly payment will increase the payments on a mortgage by $23.25 per week on the $200,000 mortgage, amortized over 25 years at 5.4%.

In this case, the home will be paid for in 1,107 payments, or 21.3 years.

The total savings will total $28,173.78i (please refer to the calculations at the end of the article.)

However, you are better off not to make accelerated payments if you have a fixed or guaranteed investment that pays 7.52% per year before taxes.

It is important to choose the best payment method for your mortgage, but the most important thing of all is to choose the best mortgage strategy.

Notes : If someone buys a home for $200,000 (with a rate of 5.4%) and pays it once a month ($1,209.16 a month), he will have paid $362,749.83 after 25 years ($200,000 plus $162,749.83 in interest); on the other hand, with accelerated weekly payments ($302.29 per week), he will have paid $334,576.05 ($200,000 plus $134,576.05 interest) in 1,107 weeks our 21.3 years. This is a savings of $28,173.78 ($362,749.83-$334,576.05) to pay the same mortgage.