Question: How much lower would the montly payment be for the following 30 year monthly mortgage 10 years later if the new 20 year mortgage rate
| How much lower would the montly payment be for the following 30 year monthly mortgage 10 years later if the new 20 year mortgage rate is 3.5% APR | |||||||||
| Original Mortgage | Refinance | 10 Years later | |||||||
| Maturity | 30 | Years | 20 | Years | |||||
| Rate | 5% | APR | 3.50% | APR | |||||
| Amount | 350,000 |
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