Lower Interest Rates

The numbers here were rounded to better simplify and illustrate the concepts.

The exact Principal & Interest monthly payments, using a $300,000 loan amount are as follows:

7% Rate & 30 Year Term: $1,995.91 /mo
6% Rate & 30 Year Term: $1,798.65 /mo
6% Rate & 28 Year Term: $1,845.37 /mo
6% Rate & 23 Year Term: $2,006.54 /mo