Thursday, February 16, 2017

How many months are left in my mortgage?


How many months are left in my mortgage?
Added (1). First off, let me preface this by saying I am absolutely horrible at math and this situation has me frustrated. In July 2015 I borrowed $33,035 at 6.25 per cent interest. My first payment was in August of 2015 and was for 370.92. Each month I made a payment of 375.00 to get a little bit ahead. On January 2017, the lender informed me that he was lowering the interest to 5.25 per cent. If I keep paying the 375 a month, when will the loan be paid off and how much will my final monthly payment be?

Read more: How many months are left in my mortgage?