Enter the necessary details in the chatbot on this page using the provided prompt to determine your monthly mortgage repayment following a rise in interest rates. For instance:
I have a remaining mortgage debt of $500,000 with a 28-year term. The current interest rate for my loan stands at 5.14%. However, it is due to increase by 0.25%. What would be the amount of extra monthly mortgage repayment required with the new interest rate?
Here is the template for the prompt above. Don’t forget to replace the numbers with your own situation.
I have a remaining mortgage debt of $<amount> with a <years>-year term. The current interest rate for my loan stands at <current interest rate>%. However, it is due to increase by <interest rate increase>%. What would be the amount of extra monthly mortgage repayment required with the new interest rate?
