Mortgage

Your client is interested in purchasing a $450,000 home. She will purchase this with a 20% down payment. The bank is quoting 6.75% on a 30-year mortgage. What is the monthly payment for principal and interest?

Variable	Enter
Clear
Loan Type	Conventional
Price	450,000
Down Pmt	20
Down Type	Percent
Points%	0
Fees	0
Int Rate%	6.75
Pmt Timing	Monthly
Years	30

Compute Payment by scrolling to its variable and choosing Calculate from the menu.

The monthly payment is $2,334.95.