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"Jeff Strickland" <crwlr@yahoo.com> wrote in message
news:zvWdnZ21RcpAc8TYnZ2dnUVZ_qmdnZ2d@ez2.net...
> Given the scenario you supplied, the interest rate is 1.04%. You will NOT
> be making this payment for 30 years and expect to pay the loan off.
> Indeed, the loan balance will rise if this is the payment you make.
>
> If you REALLY had a 30-year fixed @ 6.5%, the payment would be $3223.55.
> An Interest Only payment on 510k @ 6.500% would be $2762.50.
>
>
>
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> "Venus˛˛" <Vénus˛˛@hotmail.com> wrote in message
> news:3ld6h.6791$ig4.5179@newsread2.news.pas.earthlink.net...
>> If this is a fix loan, 6.5%, 30 years, I don't see how they can make the
>> payment so low. Normally for this loan, the interest will be in the
>> $2,780 minimum. I tried 40 years and I still see $2500/mo of Interest.
>>
Yes I agree, I cannot imagine the brokers tried to scam innocent buyers.
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Re: Is it possible for a loan of $510,000 to create a payment of $1650? I think the Lender is hiding something.
