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how do i find the interest we paid last year on our home

  1. profile image45
    bigdaddyjjposted 7 years ago

    how do i find the interest we paid last year on our home

  2. profile image0
    Martyv25posted 7 years ago

    Hey dude welcome to Hubpages, answer to your question. I would take a look at your latest mortgage statement it should be detailed on there, it would be in England not sure where you are from.

    If not check how much your interest rate is (APR). Lets say it's 5.5% and you pay 600pm on your mortgage

    600 x 12 is £7200 - 5.5% = £6804, in the first year of your mortgage you will never pay this much off but it gives you an idea.

    I'm no financial expert but that is how I would work it out.

  3. gposchman profile image83
    gposchmanposted 7 years ago

    Here are three possible solutions.
    The financial institution that services your mortgage is required by law to supply this information.  If you haven't got it, call them.

    If you have your receipts from the year, the interest is provided there, and you can add them all up. If you have the last one you can back track by looking at what you paid in principal, interest and full payment.  It take a lot of math, but it can be done.  If you have last January's bill, you can do the same and work forward.

    If you have you mortgage information from the beginning including Mortgage amount, rate, number of payments, and know how long you have had your mortgage, you can use a free mortgage payment calculator on the internet and you can plug in the numbers and you will get all the payments amortized out and you can select the twelve payments that fit within the appropriate year.  The principal will be displayed for each payment. 

    I hope this helps.

    Gene Poschman

  4. profile image47
    debbyrayposted 6 years ago

    how do i find the interest we paid last year on our home

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