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Do the mathematical rules for mortgages apply to loans as far as saving interest costs?

April 26, 2017costs Loans mathematical mortgages rules Saving

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Do the mathematical rules for mortgages apply to loans as far as saving interest costs?

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Yes! The fact is that, all the formulas for loans and mortgages are identical except for the value used as the interest factor (due to the different compounding). In fact “a mortgage” is nothing more than a special name for a loan for a mortgaged home.