Generally, a mortgage cost is equivalent the Principal amount + the Interest imposed by the lender.
To understand your Mortgage Cost, below calculation illustrated how much actually a borrower has to pay to the lender (banker).
To understand your Mortgage Cost, below calculation illustrated how much actually a borrower has to pay to the lender (banker).
To Calculate your Mortgage Cost; it simply (example)
- Monthly Installment RM 1,748 x 360 (Loan Period 30 yrs) = RM629,293
- Total Paid: RM 629,2932 - RM250,000 (Loan Amount) = RM379,293
- Your Mortgage Cost : RM 379,293
Hints: We are paying more than 200% of what we are acquiring.
