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How To Calculate Monthly Payments On A Mortgage

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Mortgage

How To Calculate Monthly Payments On A Mortgage

 

Purchasing a home is a significant milestone for many people, but it can also be a difficult process. One of the most important aspects of buying a home is determining your monthly mortgage payments. In this blog post, we will look at how to calculate mortgage monthly payments.

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Step 1: Calculate the Loan Amount

The loan amount is the first step in calculating your monthly mortgage payment. This is the amount of money borrowed to purchase the home. This figure is typically based on the home’s purchase price minus any down payment you make. For example, if you buy a $300,000 home and put down $60,000, your loan amount will be $240,000.

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READ Earn Remotely Online With Digital Skills

Step 2: Calculate the Interest Rate

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The interest rate is the amount of money you will pay the lender to borrow money to purchase a home. This rate can change depending on factors such as your credit score and market conditions. Current interest rates can be found by contacting your lender or searching online. For example, if your interest rate is 4%, it would be expressed in the calculation as 0.04.

 

Step 3: Establish the Loan Term

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The loan term refers to the amount of time you have to repay the loan. Most mortgages are 30-year or 15-year loans, but there are other options. The longer the loan term, the lower the monthly payment, but the higher the interest paid over the life of the loan. For example, if you have a 30-year mortgage, the calculation would be 360 (30 years x 12 months).

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Use a Mortgage Payment Calculator in Step 4

You can use a mortgage payment calculator to calculate your monthly payment once you’ve determined the loan amount, interest rate, and loan term. There are numerous online calculators available to assist you with this calculation.

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Yo can use the Mortgage Calculator website

Simply enter the loan amount, interest rate, loan term, and any other required information, such as property taxes and insurance, and the calculator will calculate your monthly payment.

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Step 5: Examine Your Budget

Once you’ve calculated your monthly mortgage payment, you should go over your budget to ensure you can afford it. When calculating your overall housing costs, keep in mind other expenses such as property taxes, insurance, and home maintenance costs.

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To summarize, calculating monthly mortgage payments can be a complicated process, but by following these steps and using a mortgage payment calculator, you can get a good estimate of your payments. Before making an offer on a home, always review your budget to ensure that you can comfortably afford your monthly payment.

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Reviews

The 3 Best Camera Phones

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Best Camera Phone

The 3 Best Camera Phones

 

The overall best camera phones doesn’t rely on the specs but built quality. Samsung backed away from the 10x zoom and Google still uses AI in its Pixel image line up while Apple always keep things very simple.

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READ Samsung Galaxy S24 Ultra vs Apple iPhone 15 Pro Max Compared

 

Samsung really made great improvements in the Galaxy S24 Ultra this year  making it one of the best phones for photography. Aside the performance the price tag not allow everyone to cop one so another option for the best camera phone is the Google Pixel 7a.

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We are not leaving Apple out of the game, The iPhone 15 Pro max takes amazing photos but can’t stand the Samsung in terms of lenses and photo modes.

 

 

Best Camera Phones

Here are the specs for the overall best phones for 2024 it terms of quality, durability, productivity etc.

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  1. Samsung Galaxy S24 Ultra

Release date: January 2024

Weight: 232g

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Dimensions: 162.3 x 79.0 x 8.6mm

Expected Upgrades: Android 14 / One UI 6; 7 years of upgrades

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Screen size: 6.8-inch

Resolution: QHD+CPU: Snapdragon 8 Gen 3

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Mobile Platform for Galaxy

RAM: 12GBStorage: 256GB / 512GB / 1TB

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Battery: 5,000mAh

Rear camera: 200MP (wide) + 12MP (ultra-wide) + 10MP (telephoto with 3x optical zoom) + 50MP (telephoto with 5x optical zoom)

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Front camera: 12MP

 

    iPhone 15 Pro Max

 

Release date: September 2023
Weight: 221g
Dimensions: 159.9 x 76.7 x 8.25mm
OS: iOS 17
Screen size: 6.7 inches
Resolution: 2796 x 1290 pixels
CPU: A17 Pro
RAM: 8GB (unofficial)
Storage: 256GB/512GB/1TB
Battery: 4,422mAh (unofficial)
Rear camera: 48MP (wide) + 12MP (ultra-wide) + 12MP (telephoto with 5x optical zoom)
Front camera: 12MP
    Google Pixel 8 Pro

 

Release date: October 2023
Weight: 213g
Dimensions: 162.6 x 76.5 x 8.8mm
OS: Android 14
Screen size: 6.7-inch
Resolution: 1344 x 2992
CPU: Google Tensor G3
RAM: 12GB
Storage: 128GB/256GB/512GB/1TB
Battery: 5,050mAh
Rear camera: 50MP + 48MP + 48MP
Front camera: 10.5MP
 Final Words

 

You should think about the kind of photos you wish to shoot when selecting a phone with a camera. A lengthy zoom would be useful if you enjoy capturing nature shots or if you are a sports photographer who frequently captures amateur or professional athletes. If the majority of your images are of yourself and your friends, an excellent all-around camera is preferable. Although the greatest camera phones can be pricey, we also have affordable options if money is a big concern.

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LEAVEN K620 Mechanical Keyboard (Quick Review)

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LEAVEN K620

LEAVEN K620 Mechanical Keyboard (Quick Review)

 

 

LEAVEN K620 Mechanical Keyboard

The LEAVEN K620 Mechanical Keyboard is one of the most underrated but the best gaming mechanical keyboards in the market.

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READ Promate Ergonomic 2.4GH Optical Wireless Mouse

 

LEAVEN K620 Quick Specs & Review

 

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Samsung Galaxy S24 Ultra vs Apple iPhone 15 Pro Max Compared

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Samsung Galaxy S24 Ultra vs Apple iPhone 15 Pro Max

Samsung Galaxy S24 Ultra vs Apple iPhone 15 Pro Max Compared

 

 

How Samsung’s top-tier Galaxy S24 Ultra stacks up against Apple’s priciest non-folding phones

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The most expensive phone in the company’s range, the $1,300 (£1,249, AU$2,199) Galaxy S24 Ultra from Samsung boasts numerous new artificial intelligence technologies in addition to camera improvements.

READ Samsung Galaxy S24 Ultra launched with Qualcomm Snapdragon 8

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Not only is it the most costly non-folding flagship phone on the market right now—it costs $100 more than the entry-level model from the previous year. The $1,200 Galaxy S23 Ultra and the $1,200 Apple iPhone 15 Pro Max.

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But for that amount, you get the most powerful phone specifications and a camera that probably specializes in taking close-up, detailed zoom shots. The S24 Ultra boasts a big 6.8-inch AMOLED display, the most recent Qualcomm Snapdragon 8 Gen 3 engine, and a 200-megapixel main camera that is now paired with a 50-megapixel telephoto sensor.

 

While we won’t be able to test these specifications on a daily basis until our evaluation of the Galaxy S24 Ultra is complete, we can contrast them with the priciest models that other flagship phone manufacturers have to offer.

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Samsung Galaxy S24 Ultra vs. Apple iPhone 15 Pro Max

 

Samsung Galaxy S24 Ultra

Display size and resolution

6.8-inch AMOLED; 3,120×1,440 pixels; 1-120Hz adaptive refresh rate

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Pixel Density

501 ppi

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Dimensions

6.40 x 3.11 x 0.34 in

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163 x 79 x 8.6 mm

Weight

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233 g (8.22 oz)

Software

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Android 14

Camera

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200-megapixel (wide), 12-megapixel (ultrawide), 10-megapixel (3x telephoto), 50-megapixel (5x telephoto)

12-megapixel (front facing camera)

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8K video capture

Processor

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Qualcomm Snapdragon 8 Gen 3

RAM/Storage

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12GB RAM + 256GB, 512GB, 1TB

5,000 mAh Battery

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Finger print sensor under display

USB-C Connector

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Special Features

Titanium frame, 2,600-nit peak brightness; 7 years of OS and security updates; 5G (mmWave); IP68 water resistance; wireless PowerShare to charge other devices; integrated S Pen; UWB for finding other devices; 45W wired charging (charger not included); Galaxy AI; Wi-Fi 7; Gorilla Glass, Armor cover glass

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Price

$1,300 (256GB)

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£1,249 (256GB)

AU$2,199 (256GB)

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Apple iPhone 15 Pro Max

Display And Resolution

6.7-inch OLED; 2,796×1,290 pixels; 120Hz adaptive

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Pixels

460 ppi

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Dimensions

3.02 x 6.29 x 0.32 in

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76.7 x 159.9 x 8.25 mm

ALSO Google Pixel 8 Pro vs Samsung Galaxy S23 Ultra : Camera Comparison

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Weight

221 g (7.81 oz)

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Software

iOS 17

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Camera

48-megapixel (wide), 12-megapixel (ultrawide), 12-megapixel telephoto (5x optical)

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12-megapixel (front facing camera)

4K video capture

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Processor

A17 Pro

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RAM/Storage

256GB, 512GB, 1TB

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Battery Capacity Undisclosed; Apple claims up to 29 hours of video playback (25 hours streamed)

Face ID

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USB-C (USB 3.0)

 

Special Features

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5G (mmw/Sub6), Action Button, Always-On display, IP68 rating, MagSafe, Dynamic Island, 5x optical zoom (120mm equivalent), satellite connectivity, eSIM, Thread networking technology

Price

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$1,199 (256GB), $1,399 (512GB), $1,599 (1TB)

£1,199 (256GB), £1,399 (512GB), £1,599 (1TB)

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AU$2,199 (256GB), AU$2,549 (512GB), AU$2,899 (1TB)

 

 

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