Imagine this scenario: You embark on the search for your ideal car or home. Upon finding it, you excitedly go through negotiations and financing only to discover the monthly payments are well beyond your reach.
Mortgages & Loans
Don't let the American Dream turn into a nightmare with high interest or fifty year mortgages. Read on for articles and advice on obtaining ideal home loans as well as tips on negotiating lower prices on your dream house. Are you thinking about buying a car or another large purchase? Get tips on low-interest financing or loans for cars, boats or other big investments. Find secrets to paying your bills on time, refinancing and paying off your debt more quickly all at BrightHub's Personal Finance channel.
If you’re one of the rare financially-minded breeds, you likely keep an obsessively watchful eye on your finances. In terms of a monthly car or house payment that means not being content knowing only your monthly payment and term length, but also how to calculate those figures yourself.
When you make a series of monthly payments to pay back a car or home loan, a portion of the payment goes to interest and a portion pays down the principal balance.