How to calculate “Monthly Mortgage Payment Per $1,000” for Fixed 20 yr Mortgage for 0 Points

Posted on 2012-09-17
Last Modified: 2012-09-28
How to calculate the  “Monthly Payment Per $1,000” for the Fixed Rate Mortgage for 0 points for 20 year mortgages for loan amounts of $200,000.

Question by:KavyaVS
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    Assisted Solution

    These templates contain all of the formulas you require for various mortgage calculation scenarios.
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    Assisted Solution

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    Assisted Solution

    What is the interest rate?

    Author Comment

    Interest rate 4.000%
    LVL 14

    Accepted Solution

    OK, so if the formulas are not working for you, here is the actual math

    P = payment, L = dollars over a term of n months at a monthly interest rate of c. [For 4%, c is .04/12 or .00333333333333].

    P = L[c(1 + c)n]/[(1 + c)n - 1]

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