Are you thinking about refinancing or buying a new home? Use this easy mortgage calculator to figure out your monthly payments.
As you play around with number, note that your monthly payment will of course increase if you increase
the loan amount or interest rate.
Your monthly payments will also increase if you decrease the life of the loan because you decrease
the amount of time it takes to pay off your entire loan.
The the shorter the life of the loan, the lower the interest rate will be because
there is less risk involved.
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