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I’m 35 and I have about $250k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying or do stocks for now?

@Markscott412

2 күн бұрын

investors are extra cautious right now. They want to make sure they’re getting a good deal given how much mortgage payments have gone up, and when they don’t feel like they’re getting a good deal, they’re backing out, so definitely looking elsewhere is a necessity.

@jackwillison177

2 күн бұрын

In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you're unsure if to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in ROI.

@AndreaRoberto-wm3th

2 күн бұрын

Do you mind sharing info of your advisor? I need help.

@jackwillison177

2 күн бұрын

'Melissa Elise Robinson' is the advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

@AndreaRoberto-wm3th

2 күн бұрын

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

To rest of the 50% club (have not checked their home replacement coverage), after listening to David, I checked my coverage. House was bought a while back for $670k, insurance replacement coverage was about the same amount. After making a few inquiries

@PennyBergeron-os4ch

2 ай бұрын

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@HildaBennet

2 ай бұрын

This is precisely why I like having an asset manager look over my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a manager for more than two years, and I've made over 85% of my initial amount/

@FinnBraylon

2 ай бұрын

Do you mind sharing this particular coach you using their service?

@HildaBennet

2 ай бұрын

’Sonya Lee Mitchell, is respected in her field. I suggest delving deeper into her credentials, as she possesses experience and serves as a valuable resource

@FinnBraylon

2 ай бұрын

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

Watched you in high school, then all 4 years of university during my science degree, and now after graduating you're teaching us about life too...LITERALLY savings lives 🤣 Thank you!!🙏

@sangmadewira4726

8 ай бұрын

Im still in high school 👀

Bro this dude does everything 😂

@joaosousa2271

Жыл бұрын

truths

@Rangerforyou

Жыл бұрын

FOR real I have been watching his vids since 9th grade

@iwuvu5940

Жыл бұрын

Better man than me

@tylerjensen1991

11 ай бұрын

I said the same thing!

@ralphlaurenpolojerk

8 ай бұрын

😂

For others, you can simply use the PMT formula in excel, which is =PMT(r,n,P). Where r = monthly rate (.05/12), n = number of payments (360), and P = principal ($400k). Plug in your parameters into the excel formula and it does all the math for you, resulting in the same $2147 answer that this video calculates as well. This way of calculating your monthly payment does not equal your total mortgage payment of course, as you will have to factor in homeowner's insurance, property tax, etc. as applicable to your situation. Another important thing to note is that this way of calculating your monthly payment is assuming you have a fixed interest rate and constant monthly payments (no extra payments toward principal that you may make over the life of your 30-year loan).

I just got approved for a $420,000 mortgage that would put me at about 3300 a month on a $80,000 salary. And what's even crazier is he said I could be approved for up to half a million. Like dude, that's over 3/4 of my take-home pay! We are going into a gigantic bubble where people cannot continue to afford their monthly payments..

@fisayofosudo538

8 ай бұрын

I hear you. I was approved for 700k no debt and I’m like WTF??? This was when rates were at 6% but there’s no way I’d take out a loan that high. How the F are ppl paying for their house???? I can only reasonably afford a loan at 350k and a 550k house with 200k down. Taxes out the wazoo! 800-1k/month. The taxes alone will kill you!

@Jessrobbie

8 ай бұрын

Very true! I've been able to scale from $15K to $89k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns

@devoncampbell275

8 ай бұрын

​@@JessrobbieHow can I reach this adviser of yours? because I'm seeking for more effective investment approach on my savings?

@Jessrobbie

8 ай бұрын

I usually go with registered and licenced representatives. ''BRITTNEY COHEN ROSE " for example has the best performance history (in my opinion) and does offers 1v1 consultation to her copiers which I think is amazing. I don’t know how many traders like that are there.>

@mianortum

8 ай бұрын

​@@JessrobbieThanks, I just googled her name came up right away speaking of which [Britney Cohen Rose] . It looks interesting so far. I'm going to book a chat with her and see how it goes

An easier way to do this is take $400,000 times 0.05 and divide it by 12 and you get $1,667.

@SherlCan0094

13 күн бұрын

😂🤣And here I am 12am wrecking my brain with this equation

Why did you skip the last part? Went straight to the answer.

@WellActualllyyy

Жыл бұрын

yeah now i cant figure out how he did it. does anyone know? ti-84 is giving a diff answer edit: use alpha Y= and select n/d. make sure you’re using negative sign and not the subtract symbol

Thank you for this, I was able to FINALLY understand!

Totally unexpected, had to watch this, the organic chemistry tutor is a genius

Thank you very much. Your explanation was so clear and understandable. 😍👍

Thx so much🙏 I knew they were stitching me up, going to court next month x

Very informative, appreciate it 🤝

Thank you, this was such an easy learn, the way you explained it.

Very informative and straight to the point! Awesome vid, thank you!!

iloveyou bro I cant survive with out your tutorials

I was trying to find a formula for my spreadsheet and i"ve finally found it. Thanks

My question is how do you get MP or how do you type it in the calculator il still confused that’s the only part I’m stuck on😢on the very last step

Thank you so much for explaining thoroughly

Professor Organic Chemistry Tutor, thank you for an outstanding video/lecture on How to Calculate Your Mortgage Payment. Morgage payments is a daily struggle on planet earth. This is an error free video/lecture on KZread TV with the Organic Chemistry Tutor.

Thankyou, it was helpful.

this video helped me big time....job well done

Ooh life lessons here.

excellent explanation!

Thank you so much

you explained the top part good but not the bottom part

💯💯well explained

Can you please show how you calculated the last part of the equation . All those negatives and parenthesis are confusing.

@Comb-kp1yd

Жыл бұрын

When you go to do the to the power of -360 make sure to type it correctly. Type 360 then the negative icon which should be a +/- not the minus one.

@bleonhill

9 ай бұрын

@@Comb-kp1ydhuh

I need to learn this very important this my first time learning

thank you so much, I am doing classes online with no teacher so I was so lost!

Hi. Good review. I have a mortgage calculation that I need to solve. I would like a formula to calculate the net Present Value of the interest payment stream (so a payment that declines each montg for the term of the loan). I need it to calculate bank prepayment penalties. Any ideas?

Thank you, really helpful but i don't know how to get the number in the end $2147.29, can I know the solution

@econlinemarketingmalaysia4045

5 ай бұрын

Yes me too

Very informative

Are there two different formulas for calculating mortgages repayments? The formula in this video is different to the one shown in a video from 3 years ago. Do they both yield the same result?

My brain. It's melting 🤯😵‍💫

@SherlCan0094

13 күн бұрын

🤣Mine has melted

I got this error: ‘This number is too big to be calculated, get a job and pay of your debts nerd’

thank you

This monthly payment includes interest and principal. Could you please provide more information on how we decide how much of it goes toward the principal?

@tyronewilson7890

Жыл бұрын

Principal is the total loan amount before interest. To calculate principal In monthly payments, (in this example) divide 400,000 by 360.

How can I calculate my expected monthly mortgage payment, if I am 1y3m into the mortgage and interest rates have gone high ?

Very interesting

Can you do one on how to calculate graduate loans?

Anyone please help, how did he get the last answer?

So we'd end up paying $773,000 for the $400,000 home.

@nhitc6832

6 ай бұрын

Yes. scary, isn't it :))

I don’t understand how you calculated the bottom part of the formula. Are you multiplying the parenthesis with the 360 days.

I don't know if I'm slow but 2,147 x 12= 25,764 (that's with interest correct? ) if you times that 25k times 30 (years) equals 772,920 ? what am I missing ?

@rolandroland1485

Жыл бұрын

So you pretty paying the bank over 200K 🤦🏿‍♂️

@CVBrennan

Жыл бұрын

@@rolandroland1485 Being homeless never looked so good.

@augustinennadozienwokocha8393

Жыл бұрын

That explains the “evil” in taking mortgage. It’s always skewed for the rich.

@tyronewilson7890

Жыл бұрын

You’re not missing anything. That 700k+ is the total cost of the loan with interest. Principal is 400k so interest would add about 300k more.

@jeremiah4267

Жыл бұрын

​@@tyronewilson7890Normalized robbery. If loans are abolished and everyone must pay in cash then house costs will drop to match what people can afford. Same for businesses. If businesses didn't have to pay back loans they would have higher profit margin and could competitively reduce their prices. Banks are leaching money on every level of society. Central banks also should be abolished.

Hi,I just want to make it more clear .Base on this math formula, Monthly payment Is going to change month by month because $400 loan is going to decrease over time. For example $400/30.12=400/360=10/9~$1000 ,so remaing balance in second month it will be ~399k means Mp=sometimes < previous months interest value.thus ,we will have a decent sequence of Monthly payment interest value on a monthly basis because the remaing balance of principal is going to be decreasing over 30 years .please can you reply to check what I have mentioned is correct or no?

@theswagateer2806

Жыл бұрын

Yes

@HN-db5cn

Жыл бұрын

Yes for the last month

@cbrooks0905

6 ай бұрын

The way they calculate the payments is your payment stays the same no matter what you pay. It’s the interest and principal that shifts around. So if your mortgage is $400k your payments will be $2147.29. Now, out of that amount 1666.67 goes to interest and $480.62 goes to principal. Now next month your principal owed will be $399,519.37. Out of this month’s $2147.29 payment the interest paid will be $1664.66 and $482.63 will go towards principle leaving the balance at $399,036.74. Now let’s say you decide to make a $20,000 extra principle payment that same month. That would bring you principal down to $379,036.74. Now, even though you paid an extra $20k towards principle next month’s payment is still $2147.29, but the interest will be $1579.32 and the principal payment would be $567.97. So you can see the more you pay off the principal the less you pay in interest. I know this is how it works because I paid off a mortgage early and each month I’d calculate the interest and principal differences to make sure the statements were right. I don’t trust the banks. 😂

@MrsGG-id1os

4 ай бұрын

@@cbrooks0905thank you for sharing.

The thing that still doesn’t make sense for me is why do you end up paying $372,960 in interest? $2147 mp x 360 month = $772,920

@turdburglar1612

Жыл бұрын

Because you have to pay off the annual interest before knocking down the prinicpal. In one year 5% of 400,000 is 20k, you will pay almost 26k in yearly mortage payments. but only 6k will go towards principle. The next year more will go towards principle.

@jeremiah4267

Жыл бұрын

​@@turdburglar1612 you only "have to" because they made it that way. These leaches should be removed.

Can you please explain to me how you got $2,147.

Pls which writing tablet do you use

How you got 2,147.29 at the end can you explain plz I didn’t understand how you solve the last bracket

How you play with peoples brains like this men😂 make it simple. The idea is the result.

First time I'm watching your video the same day you post it (clicked on this 5minute after upload). You don't know me, but you've got no idea how you've impacted me. Thanks for all you do!

Nice

Please can you do more lipid metabolism videos? Thanks

wait huh? 4:48 I did this exactly and I ended up with the top number, the formula changed nothing lol I'm so confused. I'm doing this on my phone, but the phone has all the right buttons.

So basically “5%” isn’t actually 5%, its 25% . 5% of 400K is 20K. Which makes the mp $1166.67. If the mp is $1666.67 then the total loan becomes 500K after interest (adding 100k) meaning the interest is 100k total which is 25% of 400k

@jeremiah4267

Жыл бұрын

exactly this. its so misleading. I bet a ton of people get mortgages and expect to pay a total of Home cost plus 5% of home cost but end up paying up to 75% of the homes original price in interest.

@chy7473

Жыл бұрын

@@jeremiah4267 not if youre able to pay extra

@royalty2924Love

9 ай бұрын

I believe that's what Robert Kiosaki was saying in his book 'Cashflow Quadrant'

The voice bro💖

I’m so slow in Math , how did you get the answer from the last part? 1-(1.00415)-360????

@SherlCan0094

13 күн бұрын

I'm stuck there as well. I think he ASSUMED we know mathematical jargon & symbols

What's odd to me is the lower the interest the smaller the denominator and therefore a larger payment (relatively). Imagine your nominator is the base payment (400,000 * interest/12) and K = 1/denominator. So K grows as the interest rate gets smaller (as the interest goes to zero the payment goes to infinity - plug in zero for r and see).

@MahaXad

Ай бұрын

Indeed. I haven't done the calculations, but maybe there's an optimal loan you can take to minimize the relative monthly payment.

Pls what I the name of the microphone you use

I don understend where did you get the 1 ????

we don't understand the last part, you didn't explain

I thought this was like arcade assassin's parody video lol

What if 3months term, Payments weekly? 10%/monthly?

Tell me if i'm correct but with your math, you borrow 400k at 5% for 30 years, you repay a total of 773k? I don't get the calcul there.

please explain step by step how you entered the denominator in the scientific calculator because I am getting a different answer.

Why are they including loan term ? Just to increase the repayments

Do you have the source of this equation? Where did you find this?

The last bid is not clear

@SherlCan0094

13 күн бұрын

EXACTLY! Glad to know I'm not on the slow bus alone🤣I wish he'd shown the actual calculator computations

Is there an easier way to calculate this?

Why would he not explain how to calculate the bottom part of the equation?

IT MIGHT BE EASIER FOR YOU TO WORK WITH PERCENTAGES THAT ARE MORE SIMPLE AND GO FROM THERE: 10% of an amount

So the bottom calculation look like this? 1 multi +/- 1.004166666 multi +/-360 ????

So total monthly payment $2,147.29 x 360 pmt = $772,920 total payment after 30 years. Then this 772k - loan amount 400k = 372k in interest alone correct?

Why is my end answer coming to $2,169 and not $2,147.29? I’m working this by hand, no programs.

Don’t understand how to plug it into the calculator

This would be with monthly compounding no?

@nhitc6832

6 ай бұрын

It's compounded monthly

I see how you got everything until you got to the final answer. How did you come up with the $2,147.29?

Can u explain how u calculated to $2,147?

@amberpeterson7104

26 күн бұрын

I came here hoping to find an answer to that exact question, I had such high hopes at the beginning of the video but he did the same skip everyone else has done *cries*

But what about having high credit score around 700+ doesn't that do something to lower payments

@nhitc6832

6 ай бұрын

it lowers your APR thus reduce your monthly payment

I don't understand how u get the answer at the last step

U lose me at the very end did u multiplied or divided!! to arrive at MP of $2,147.29?

You did not show how to calculate after you plugged in the numbers, why not?

@nhitc6832

6 ай бұрын

because that's basic math operations you learned in 5th grade math. This video isn't about how to do basic math. It's about the concept of amortization

I got everything except the last part. How did you come up with the $2147. 29 I divided 1,666.66 by 1.00416 I got $1659.75 + $360= $2019.76 What am I missing?

@Dziricani

10 ай бұрын

You made a mistake in your denominator. Here's how you plug in the whole formula on your calculator (as shown in the video at 4:10mn): 1,666.666÷(1−(1.0041666)^(−360))

i really wish you would work out the math with the exponents, my calculator doesn't spit out the right answer. Maybe I am doing them wrong, but if someone would just take 5 seconds to NOT skip it, that would be awesome. My MyMathLab just assumes I know how to do them. lame

At $2147 monthly, we are talking $25,767 annually... over 30 years would be $773,024 paid back on a $400,000 loan. Does the bank really make double their investment? Holy Fucking Shit Balls.

@tyronewilson7890

Жыл бұрын

Usually I see more than double with 6-7% interest rates. 5% is pretty good

@jeremiah4267

Жыл бұрын

Banks should be abolished.

@nhitc6832

6 ай бұрын

amazing, isnt it.

You didn't break it down enough for me. You didn't show the exact last step to get $2,147.29. The equation under the line is still not solved out for me. I cant get it.

@nhitc6832

6 ай бұрын

here put this in your calculator exactly the way it's written: 400000 (0.05/12) / (1 - (1 + 0.05/12)^(-360))

@MrMyspace6

6 ай бұрын

God bless you. Have a prosperous New Year. @@nhitc6832

Bro, you skip the last step😢. How did you get to the answer?

So you are paying an extra 373,000K in interest onto of the 400K. Damn. Midas just work 6 years straight save cash and save 300K to put down.

@jeremiah4267

Жыл бұрын

What im doing right now, saving 3k a month :D

In other words take the amount you need for the house and take that number multiple it by 93% and thats the interest you need to pay... but how is this the math for them to make money on you but if your money is in the bank building interest they dont use this equation?

Title should be: *How to calculate that which you’ll never pay off*

what about the property tax lol

@nhitc6832

6 ай бұрын

it's added on to the monthly payment.

So $2147.29 x 360 payments is 773k … oh myyy

When did this man start teaching adulting type stuff 😂

Why it look like algebra 3 math formula

what if only first year r=3% and for other years r=5%

@nhitc6832

6 ай бұрын

you calculate the remaining principle after a year and use that as initial principle. And then recalculate with 5% interest and 348 payments

All Stores Please Lower the Price of all Military & Local for all Brands of House Products & Interest Rate Products & Accessories & Production Cost Now That's too much $$ The Whole World Now 🙏🙏🙏

youre solving it by not showing it fully😢😢😢😢😢 send helpppppppp

keep getting wrong answer at last step using ti-84… please do it step by step

@nhitc6832

6 ай бұрын

you're probably missing parentheses somewhere.