Thread: House Mortgage with Rate

If you have a 30-year mortgage at 6.48% on a house, after 10 yrs of payments you will still owe about $170,000.

This problem is confusing. I'm not able to understand what its asking. How would you solve it? Please show work so I can see how the answer is found.

What is the question here?

Maybe how much was loaned?

Originally Posted by slbenfica14

If you have a 30-year mortgage at 6.48% on a house, after 10 yrs of payments you will still owe about $170,000.

Well, looks like you can look at this as a new $170,000 mortgage, term 20 years, rate 6.48%: calculate monthly payment....