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Mortgage assignment

# Mortgage assignment - Zach Holland Sport Finance Mortgage...

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Zach Holland Sport Finance 1/30/12 Mortgage Assignment \$180,000 home in 2012 15-year Mortgage with 15% down in cash and a 5.2% mortgage Balance of mortgage over the 15-year period o Initial Mortgage= \$153,000 o January 2013= \$146,672.02 o January 2014= \$139,416.70 o January 2015= \$131,774.97 o January 2016= \$123,726.27 o January 2017= \$115,248.92 o January 2018= \$106,320.08 o January 2019= \$96,915.71 o January 2020= \$87,010.50 o January 2021= \$76,577.75 o January 2022= \$65,589.39 o January 2023= \$54,015.82 o January 2024= \$41,825.86 o January 2025= \$28,986.70 o January 2026= \$15,463.76 o January 2027= \$1,220.62 o February 2027= \$0.00 Total mortgage loan amount : \$153,000 Monthly Payment for loan: \$1,225.91 Date of final pay off: Jan 2027 Total Interest paid by Jan 2027: \$67,664.56 Bulk of monthly payment goes toward principle on: Oct. 2013 \$613.76-612.15 Impact of making 13 th payment each year o Total Interest: \$59,967.57 vs. \$67,664.56 o Final Date of payoff: June 2025 30-year Mortgage with 15% down in cash and a 5.2% mortgage Monthly Payment for loan: \$840.14 Date of final pay off: Jan 2042 Total Interest paid by Jan 2042: \$149,450.27 Bulk of monthly payment goes toward principle on: Oct. 2028 \$420.62-\$419.52 Impact of making 13 th payment each year o Total Interest: \$122,239.23 vs. \$149,450.27 o Final Date of payoff: April 2037

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15-year Mortgage with 20% down in cash and a 5.2% mortgage
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