TTMF vs Home Mortage Bank

[anoojra]

Just wondering the pros and cons or either, i expect some have already done their comparisons. Please chime in tuners!

Thanks

[acesinghit]

they will eventually merge....see link below:

http://www.guardian.co.tt/business-guar ... y-december

[TriniAutoMart]

Last month's fixed at 6% offer at TTMF seems to have been a really good deal.
Getting a fixed rate like that is great.

[ronsin1]

^^^ there is a trick to that

They are taking their interest up front some months they only apply your payments to interest and not principal while other months a small percentage is applied to the principal

[Mr. Red Sleeper]

^^^Is that a fact???

[TriniAutoMart]

^^^ there is a trick to that

They are taking their interest up front some months they only apply your payments to interest and not principal while other months a small percentage is applied to the principal

Hey ronsin,
Check with any other bank you will see it works the same way.
Your payments usually start off with the majority of the payment going towards the interest.
As the years go by, the percentage going to interest decreases, while the percentage going towards principal increases, until somewhere along half the life of your loan where the percentage going towards principal will start exceeding the percentage going towards interest.

[Country_Bookie]

^^^ there is a trick to that

They are taking their interest up front some months they only apply your payments to interest and not principal while other months a small percentage is applied to the principal

Mortgage calculators are very standard. Ask them for the amortization schedule and then create your own. Excel has loan amortization templates or u can just google a mortgage calculator and you'll find the same schedule u got from TTMF.