This is how a lease option should work: After securing the go-ahead from a mortgage broker and before moving in, your potential buyer will give you a healthy, nonrefundable deposit to go toward the down payment of the house -- typically, 3 to 5 percent of the purchase price.
The Simple Interest Calculation Formula is: Loan Amount (in dollars and cents) x Interest Rate x Time (in days) = Total Interest. You must select the values to enter the Starting Month, Day and Year, and the Ending Month, Day and Year for the time of loan. Enter the amount of the loan and the simple interest rate. Click on Calculate. The calculation is done in days, EXACT calendar days!
Calculating Amortization. You can calculate a mortgage amortization schedule if you know a couple of key pieces of information: periodic interest rate and loan balance. Beginning with the first month, multiply the mortgage balance by the periodic interest rate.This will give you the first month's interest payment.Subtract that interest payment from the total payment to learn the principal amount. To figure the principal and interest payments for subsequent months, subtract the first month's payment from the mortgage balance, then repeat.his will give you the first month's interest payment. Subtract that interest payment from the total payment to learn the principal amount. To figure the principal and interest payments for subsequent months, subtract the first month's payment from the mortgage balance, then repeat.