What are your after tax mortgage payments

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Reference no: EM13732251

You have decided to issue a 30 year fixed rate conventional mortgage to the bank to finance the purchase of a $300,000 home. You are required to make a 20% down payment. The mortgage rate in 5% per year. You will make payments monthly. Please use Excel to calculate the monthly interest payments, monthly principle payments and total monthly payments. You are in the 30% tax bracket. What are your after tax mortgage payments. Remember interests on mortgages used to finance a primary residence are tax deductible. You must be able to explain how you arrived at your answer

Reference no: EM13732251

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