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Hutchinson, KS News

Hutchinson News
Local news for Hutchinson, KS continually updated from thousands of sources on the web.
  • Armenian Bar, Trayvon Details, Virginia, Mary Kennedy

    Underwear designer Andrew Christian has a potentially NSFW video to sell his wares, though I guarantee you'll be looking at more than just undies.

  • New Charges Against Hutchinson Homicide Suspect

    A judge on Tuesday granted a request by the Reno County district attorney to file a new charge of aggravated intimidation against Charles Christopher Logsdon.

  • New charges against Hutchinson homicide suspect

    HUTCHINSON, Kan. - Prosecutors have added another charge against a 32-year-old man accused of killing a Hutchinson woman in June 2011.

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  • Taft-signed bill raises pensions for US soldiers

    Inappropriate comments include those which: * are libelous or defamatory * are obscene, pornographic or sexually explicit; substituting characters for letters is not acceptable * degrade others on basis of race, gender, class, ethnicity, national origin, religion, sexual orientation, disability or other classification * are predatory, hateful or ... (more)

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Hutchinson Real Estate
Office: 800-339-8841
Cell: 800-339-8841
15 year vs. 30 year loan PDF Print E-mail

What about a 15-year vs. 30 year loan?

The difference in payments and overall savings between a 15-year fixed-rate loan and a 30-year fixed-rate loan depends on the interest rate and the loan amount. Using a $100,000 loan and 7.25% interest rate as an example, monthly payments on the 15-year note would be $912.86. Monthly payments on a $100,000 loan at 7.25% fixed for 30 years would be $682.18.



The 15-year note offers the opportunity to save considerable money over the life of the loan, since the period of amortization is half that of the 30-year note. This means that the total interest paid on a 15-year note as compared to a 30-year note is significantly less.
However, calculating the overall savings of the 15-year note over the 30-year note depends on several individual circumstances, such as the borrower's changing income status.

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Last Updated ( Tuesday, 29 July 2008 )
 
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