without using a mortgage calc. but with a regular calc. how do u calc arm rates?
FOR INSTANCE DO I TAKE THE AMOUNT OF THE LOAN (150,000)AND DIVIDE BY THE INTEREST SAY 6%. AND THEN MULTIPLY BY THE TERM OF THE LOAN SAY 30 YEARS. iS THAT THE WAY TO DO IT WITHOUT USING A MORGAGE CACULATORAND HAVING TO USE A REAL ONE?
I have a 30 yr lined up, don’t know the interest rate off top of my head. I was curious if anyone was a mortgage broker and could give advice. Its a 100% loan with seller concession included.