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When people think of vacation homes in Minnesota, the Brainerd Lakes Area comes to mind. You can be at your lake cabin in about two hours from the north side of the Minneapolis and St. Paul metro area. Brainerd Lakes Area is a large geographic region, so getting to your lake place in Cross Lake or Pequot Lakes to the north of Brainerd will take a little longer. The Lakes area has restaurants and shopping options to meet the vacation crowd. Baxter, because of its location directly on the main artery of this northerly bound traffic, has had by far the most development, which still continues today. The largest and most expensive of the lakes in the area like Gull Lake, Pelican Lake and the Whitefish Chain have been popular getaways for the Twin Cities for many years, the closer-in lakes like South Long, North Long and other smaller ones wrapped around Brainerd and Baxter, offer a wide variety of waterfront real estate at more affordable prices… and you don't have to drive as far to get to them! They are also generally more attractive locations for those who live and work in Brainerd. So check out the low interest, monthly payments on a property you love. Just southwest of Brainerd, in the northern tip of Morrison County, is another grouping of lakes called the Lincoln Lakes Area. Here you will find prime lakeshore properties for sale a bit removed from the commercialized areas around Brainerd. Local communities like Motley, Staples and Cushing offer up restaurants and other conveniences without dealing with the extra traffic - yet they are close enough to the Brainerd Lakes Area to take in the fine dining and other amenities that are commonplace there. With mortgage rates low, you can save on interest when you buy your lake homes or cabins you have in mind, you can find them in the Brainerd Lakes Area of Minnesota. There is no shortage of crystal clear lakes, towering pines, or million dollar mansions on the waters that surround this vacation paradise, but just get ahold of one of our local real estate experts to help guide you through all the area waterfront real estate options in the region. You may be very surprised at how affordable lake properties here can be.

Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.

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Definitions

Mortgage amount
Original or expected balance for your mortgage.

Interest rate
Annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

Monthly payment
Monthly principal and interest payment (PI).

Total payments
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type
The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.

Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment
This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assumed to happen before the first payment of the loan.

Savings
Total amount of interest you will save by prepaying your mortgage.
Questions?
Call the Real Estate Professionals at Up North Properties
218-820-7355
sales@upnorthproperties.com
 
 


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