Thread: how do i calculate the equity gained by paying off a loan?
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Old 03-20-2005, 10:34 AM
TStoneMBD TStoneMBD is offline
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Join Date: Jul 2004
Location: Rome, NY
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Default how do i calculate the equity gained by paying off a loan?
say that i have a 100,000 mortgage at 6% interest, and am paying $500 a month to pay it off, how do i caculate the equity buildup from each months mortgage payment?

from my understanding, the number is usually around half the payment, if the loan is for 30 years. is there a simple mathematical equation to solve this, or an online java applet that you can enter these numbers into?
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