Whitney Andersen

November 30, 2015

FIN 101 Section 3

HOME AMORTIZATION
Location: 1868 W
10695 S, South
Jordan, UT 84095

COST:

$395,000
About:
3,298 Square Feet
0.41 Acres
6 Beds
4 Baths

Financing with: Bank of America

30 Year Fixed
Interest Rate: 4.125%
Down Payment: $79,000
Bank Fee: $5014.60
Estimated Monthly Mortgage: $1,531
Monthly Payments: $1,555.80
Total Paid: $639,086.70
Total Interest Paid: $239,072.10
If we were able to pay $100 more on our home mortgage every month we would finish paying
off our home in about 27 years instead of 30 years.
Monthly Payments: $1,655.80
Total Paid: $583,078.03
Total Interest Paid: $183,063.43