How a Mortgage Works (old, with Mistake)

Tags:
Amortization Calculator, Mortgage, Buying House

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This video has mistakes!
For the corrected and shortened version, go here:
http://www.youtube.com/watch?v=5ePtv1UyjSg

Understand how a mortgage works via amortization. Basic math, with visuals. Slightly crude, but explains what seems difficult in a simple way, something hard to come by on the internet.

mistakes in this video:
Monthly payment is $805.23, not $813.14
Also, monthly payment is not simply divided by 12.

  1. By: financing expert
  2. Categories How To, Art & Animation
  3. Views 1,747
  4. Added :18-Mar-09
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