Re: for 30-year loan - 未名空间MITBBS历史存档

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Re: for 30-year loan

Re: for 30-year loan# Living

s*e2004-05-20 07:05

1 楼

just did an accurate calculation for 200K loan:)
worst case for 5ARM in 7 years=>5*5%+7%+9%
pay interest 77183.84, loan balance left 180549.85
30 fixed in 7 years=>7*6.25%
pay interest 83507.67, loan balance left 180067.18
5ARM is slightly better than 30 fixed in 7 years,
pay 6323.83 less interest with 482.67 more balance
if tax benefit is 1/3, save $1625

d*l2004-05-20 07:05

2 楼

hmmm, lets do some rough math
for example, your house income: 100000
Total Mortgage : 300000
Monthly payment : 1475 (based on 4.25% 3arm)
Total Mortgage yearly : 1475 * 12 = 17700
Tax (20%, include social/med.): 20000
what is left after all of those.. 62300
less property tax, and other expense, 401k. Can you save half of it? :)
or did I miss something here
if double income, at least I think house income should > 100K

c*e2004-05-20 07:05

3 楼

我们家是5ARM的.3.875%, 5/2/5, CAP 是5%, 第一年最多可ADJUST 5%,
以后每年最多2%.所以WORST CASE是从第6年起就到CAP了是8.875%.LOAN是270K.我的计算
如下:
5ARM:
MONTHLY PAYMENT:
头5年: $1270.41 + $500 = $1770.41
以后(按25年, 8.875%) : $1750.76 + $20 = $1770.76
PRINCIPLE 5年后: 210682.97, 7年后205145.04, 10年后194745.16
30FIX(当时大概是%5.125)
MONTHLY PAY: $1470.95 + 300 = 1770.95
PRINCIPLE 5年后: 227921.54, 7年后207833.57, 10年后173569.12
所以同样的MONTHLY PAYMENT,如果住5年,ARM赚$16K, 7年ARM赚2K多,10年则是30FIX赚2K
多.我们计划在这里大概就住5-7年,10年大概最多了.所以选了ARM.
而且如果你每月ADD的EXTRA PAYMENT越多,

【在 s******e 的大作中提到】

: just did an accurate calculation for 200K loan:)
: worst case for 5ARM in 7 years=>5*5%+7%+9%
: pay interest 77183.84, loan balance left 180549.85
: 30 fixed in 7 years=>7*6.25%
: pay interest 83507.67, loan balance left 180067.18
: 5ARM is slightly better than 30 fixed in 7 years,
: pay 6323.83 less interest with 482.67 more balance
: if tax benefit is 1/3, save $1625