Rate: 2.44%
Amortization period: 25 years
Cost of house: 350,000
Down payment: $153,100
Remaining mortgage: $196,900
Payments: Monthly
PMT = 877.39.
Total monthly Cost: 1400 (PMT + OTHER FEES)
Monthly lease profit: $1300
Income -100.00
Down payment needed for breakeven: ??
My PMT for my remaining mortgage is $877.39 and I have $600 of other expenses.
How do I find out the Down payment I need to reach a monthly break even point?
TY.
Amortization period: 25 years
Cost of house: 350,000
Down payment: $153,100
Remaining mortgage: $196,900
Payments: Monthly
PMT = 877.39.
Total monthly Cost: 1400 (PMT + OTHER FEES)
Monthly lease profit: $1300
Income -100.00
Down payment needed for breakeven: ??
My PMT for my remaining mortgage is $877.39 and I have $600 of other expenses.
How do I find out the Down payment I need to reach a monthly break even point?
TY.