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Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxt!houxm!vax135!cornell!uw-beaver!tektronix!hplabs!hp-pcd!john
From: john@hp-pcd.UUCP (john)
Newsgroups: net.consumers
Subject: Re: mortgage question
Message-ID: <69600023@hp-pcd.UUCP>
Date: Fri, 12-Apr-85 15:57:00 EST
Article-I.D.: hp-pcd.69600023
Posted: Fri Apr 12 15:57:00 1985
Date-Received: Wed, 24-Apr-85 03:08:49 EST
References: <188@mhuxn.UUCP>
Organization: Hewlett-Packard - Corvallis, OR
Lines: 12
Nf-ID: #R:mhuxn:-18800:hp-pcd:69600023:000:499
Nf-From: hp-pcd!john    Apr 21 12:57:00 1985

<<<

  Sorry about the confusion between 15 and 30 year loans. The article that I
was refering to compared a $100,000 mortgage for current rates of 12.75 for
the 30 and 12.25 for the 15. The payments on the 30 would be $1087 and the
15 would be $1217. The $130 difference would save you $172,260 (Before taxes)
if you took the 15. I figured that a 12.75% loan for $100,000 paid off at
$1217 a month would take 16.27 years for a difference of $18600.(before tax)


John Eaton
!hplabs!hp-pcd!john