Real Estate Texas "INTEREST RATES"

[moony]

Hi, let me just start off by saying thank you all for all y'alls help.. I'm having a real problem here my interest rate on my home loan is 13.5 on my contract of deed but when i go and calculat it on mortgage site the site tells me that it is 14.83% .. I don't understand how this works.
All i know is that this person is making a killing off of me. by the time i pay my house not off i'll have paid 114000 i did not agree to this interest rate. Please can you help me .... I'm stuck between a rock and a hard spot




Moony from texas

 

[HomeGuru]

Yous signed the contract so you did in fact agree to the interest rate. Have a mortgage broker review the docs for you as there are a number of different scenarios ie. simple interest, interest only, compounded interest, principal and interest.....