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How To Calculate Your GMAC Mortgage Payment
Looking for information on how to calculate your GMAC mortgage payment? GMAC offers a convenient mortgage calculator on their website that can be used to calculate your GMAC mortgage payment. The below directions will guide you through using the GMAC mortgage calculator.
- Gather your mortgage information. Before getting started with the calculating, reference your records and round up the data and information you will need to calculate your GMAC mortgage payment. This includes the amount of your monthly mortgage payment, the length of your mortgage in years, and your interest rate.
- Visit the GMAC website. To use the GMAC mortgage calculator to calculate your GMAC mortgage payment, you will need to visit the GMAC website. The GMAC mortgage calculator is easily accessible from the home page.
- Enter your mortgage information. The GMAC mortgage calculator asks for the amount of your mortgage in dollars, the length of your mortgage in years, the interest rate that you have been charged, and prepayment information. If you are making a one time down payment, select one time payment from the drop down menu. You will also need to enter the amount of the payment.
- Click the calculate button. Once you click the calculate button, your GMAC mortgage payment will automatically be calculated. The GMAC mortgage calculator will show you your monthly payment, the amount of interest that you will be charged over the length of your mortgage, and the total payments that you will make on a yearly basis towards your GMAC mortgage.
Tips: If you need more information in regards to your GMAC mortgage, you will need to call GMAC or visit your local GMAC mortgage branch office. GMAC does not guarantee the accuracy of the ability of their calculator to calculate your GMAC mortgage payment, so keep that in mind when using it.
Posted on: Sep. 08, 2010