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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 57,095
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Quote:
Originally Posted by Rick Lee
Thanks, but unless it's done by seven years, there's no point in going with a 7/1 ARM.
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that's what I was thinking
If I extrapolate it looks like to get it paid off in 7 years, you'd have to pay an extra 2500/month on top of the 959. What's really kicking your rear is that the P&I gets reset back to payment #1, so 959 payment and P=116 and I=843.
If you've got excel, this makes it pretty easy.
https://www.wikihow.com/Create-a-Mortgage-Calculator-With-Microsoft-Excel
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Steve
'08 Boxster RS60 Spyder #0099/1960
- never named a car before, but this is Charlotte.
'88 targa  SOLD 2004 - gone but not forgotten
Last edited by masraum; 02-25-2020 at 07:02 PM..
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