Can you recommend a loan calculator?
People with their increasing needs often prefer availing loans. They are the best way to live a dream life even when there is a shortage of money. Loans are of various types with amazing features, purposes, and duration. No matter which type of loan you require Loan EMI calculator helps to find the interest rates, duration, interest amount and total money you have to pay for the loan. This calculator helps to calculate the exact amount you have to pay against the loan availed on a monthly basis. This also helps an individual to analyze the income and decide on how much he can afford to pay each month.With the help of EMI calculator online, you can decide on diverting the salary as EMI against the loan. Even you can calculate this amount by using excel, formula or an online calculator. The internet is filled with different calculators personalized for particular loan types. Thus, pick the right calculator as per the loan you are looking for. Using this calculator for EMI calculator reduces your effort and provides more accurate results. They also help to fluctuate the tenure and get results n how much you have to pay, interest amount and how the change in interest rate can affect your monthly payments.
A mortgage of 147 500 calculate the new monthly payment?
So, after paying on your mortgage at the rate of 4.5% for 7 years (84 payments of $819.85), your balance would be $121,221.81. Assuming that you are just changing the rate to 3.25% and the term is staying at 18 years (25 minus the 7 years paid). Your new mortgage payment would be: $742.02 As the other person suggested, you can use a mortgage calculator, such as: http://www.ezmortgagecalc.com/ or any number of others to do this calculation. ;-)
A mortgage of 147 500 .. calculate the new monthly payment?
original PMT = PVr/(1-(1+r)^-n) with r & n adjusted for periodicity PV = 147,500, r = 0.045/12, n = 12*25 ==> PMT = $819.85 FV of remaining loan after 7 years (n = 12*7) = PV(1+r)^n - PMT((1+r)^n-1)/r = $121,222.09 new PMT (n = 12*18, r = 0.0325/12) by 1st formula = $742.02 <--------
Dividend investing: How much capital is needed to earn $500/month just on dividend returns? What are the best options?
The first part of this question has mathematical answer at any given time that I can determine for you, given the risks associated with pursing that I will then suggest one better course of action. As of the time of this answer Western Asset Mortgage Capital Corp (NYSE:WMC) [1] has the highest dividend yield of any stock [2] at 22.64%, .90 cents paid out quarterly and a stock price of 15.90. Given that you are trying to create $500 a month, or $6,000 a year you would need [$6,000/.2264 =] $26,501.77 in capital to return $500 per month.I certainly will not be recommending this approach to anyone because WMC is a volatile stock with a business model that is expected to suffer in a rising interest rate environment that many people would agree we are in today. To get a better sense of the amount of capital needed to have a reasonably secure dividend return of $500 a month I will suggest using the 30 blue chip stocks tracked by the DJIA and investing in each of them equally. This is not a complete recommended portfolio, but does provide a much more accurate sense of the capital needed to have a reasonable chance to create $500 in dividends per month for a considerable period going forward.The simple average (which we should use because I am suggesting investing in each stock equally, rather than price weighted as the DJIA is) of the yields of the 30 stocks included in the DJIA is currently 2.80% [3]. Using that as the yield it would take [$6,000/.0280 = ] $214,285.71 in capital to return $500 per month in dividends, but unlike in the other scenario your capital would be reasonably safe and have the potential for long term appreciation as well as increased dividend payouts, for instance PG [4], one of the DJIA components, has increased their dividend every year for the last 56 years and MMM[5] is on a 54 year streak. [6][1] Western Asset Mortgage Capital Corp[2] High Yield Dividend Stocks[3] Dividend Yield for Dow Jones Ind. Avg. Stocks, Sorted by Yield [4] The Procter & Gamble Company[5] 3M Co: NYSE:MMM quotes & news[6] 25-Year Dividend Growers Stock List
What does it feel like to have 100 million rupiahs monthly income in Indonesia?
I work for a unicorn start up in Indonesia (based in Jakarta)- green is our color! (You can easily guess)My monthly income is a little over IDR 100 million (after taxes) and I am below 30 - I am sitting in a mid-level management position (not even a VP)How does it feel? Well, it still takes me 15 years to buy the smallest unit of a mid-upper scale apartment in Sudirman (e.g. Anandamaya), it takes me probably 30 years to buy a nice house in Pondok Indah and it takes me forever (more than just a lifetime) to buy a mid-sized house in Menteng.Ah not to mention - I can spend my monthly income just to buy a one-way ticket to the US on Singapore Airlines extravagant first Class/suites and have to wait for another month (until next paycheck comes) to buy the return ticket.I guess, the sky has no limit. There’s always someone who earns more and is wealthier. Am I happy? Yes, very much. I don’t buy material stuff - I spend my money mostly on experience. In the end, you will only have what you remember (and it is called memories). Ah, I spend some to help others too. You will never be able to imagine how much IDR 500k (just 0.5% of your income) means to someone. When you pass it on a random stranger (beggar) you meet on the street and you ask them to use the money to start a small retail business (we called it asongan). A few months later, he comes back to you and tells you that he’s managed to live a more financially sustainable life with his children and 0.5% of your monthly earning contributes to that. That kind of feeling is priceless :)
What are the fastest ways to pay down a 30 year mortgage?
Adding to the answers already given, be VERY CAREFUL to know the rules before paying extra on your mortgage. Most loans these days allow prepayments without prepayment penalties. What I am talking about is if you send more than a month's payment, it is not automatic that the extra amount will go to your principal vs advance payment credited toward your next regular payment.Most times you have to follow specific rules per each lender. There is usually something they require to note the extra amount is "principal" and not just an early payment. They are not one in the same.The simple answer is you just do it. You pay more principal at any time than you are required to pay in the 30 year amortization. The old school rule was you calculate the payment for what you want the term to be. Say you want to pay it off in 15 years. You make the same payment you would if it were a 15 year mortgage. If that is $500 more a month, then be sure that extra amount is noted as an extra principal payment every single time you send it.For young people we used to recommend that they take the 30 year and make the 15 year payment, in case at some point they run into financial difficulty and don't qualify to refinance it from a 15 year to a 30 year. They can revert back to paying the 30 year payment during tight financial times and at any time at will.BUT the rate difference between the 30 year and the 15 year was not all that much. You have to check the spread and weigh the conservative approach against the dollars lost on the higher interest rate. Sometimes the spread is wide and sometimes it is narrow. But if you don't feel confident that you can pay the 15 year payment every single time for 15 years, you get the 30 year mortgage and make the 15 year payment. You can do that for 10 years or 20 years or any option you choose. Just consult a mortgage calculator to get the payments for each period of years, and choose the one that suits you best. For instance a 20 year payment for a $200,000 loan is about $250 more than for a 30 year loan. If you want to pay it off in 20 vs 30 years, pay $250 more a month or an extra $3,000 all at once when you get your annual tax refund.The fastest way will be the one that pays the principal down the most. It's simple math really. But money paid against your mortgage is not money you can easily get back. So be sure to have a good savings and emergency fund and don't put your last dime on your mortgage every month.
How much cash do I need to have to afford a $2M house?
A good rule of thumb is to have at least 30% of the value of the house you want to buy in cash. 20% for the downpayment, and 10% as a financial buffer just in case you lose your job, have an emergency, or find new investment opportunities.So for a $2M house, we’re talking a $400,000 downpayment and a $200,000 cash buffer.$200,000 cash might seem like a lot, but remember that a $2M house has a 1.3% annual tax rate = $26,000 a year. You’ll also have to pay ~$2,000 a year in home insurance, $2,000 - $5,000 a year in maintenance, and of course, a $7,400/month mortgage if you borrow $1,600,000 at a 3.75% interest rate.Further, you’ve got to spend money on life! Here is how a $500,000 a year household can easily spend all their money with two kids and only a $1,500,000 house in my post: Scraping By On $500,000 A Year: Why It’s So Hard For High Income Earners To Escape The Rat RaceAnd for reference, I just sold a rental home I’ve owned in San Francisco since 2005 in 2017. Purchased for $1,523,000 and sold for $2,740,000. The buyer took out a two mortgages: one for $2,000,000, and another for $300,000! To me, that’s pretty nuts. But he must be bullish on his future!See: Why I Sold My Rental Home: Had To Live For TodayRegards,Sam