Calculating required down payment on home purchase. How much would you have to put down on a house costing $100,000 if the house had an appraised value of $105,000 and the lender required an 80 percent loan-to-value ratio?
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- a purchaser makes a 20% down payment on a new home and obtains a loan for the balance. The lender charges two discount points which equals 1000. what was the sale price of the house? I would like a break down on how to obtain the answerCalculate how much money a prospective homeowner would need for closing costs on a house that costs $237 comma 500237,500. Calculate based on a 2121 percent down payment, 1.21.2 discount points on the loan, a 0.60.6 point origination fee, and $1 comma 8301,830 in other fees.How much would you have to put down on a house costing $130,000 if the house had an appraised value of $135,000 and the lender required an 80% loan-to-value ratio? Ignore any closing costs. $
- Calculate how much money a prospective homeowner would need for closing costs on a house that costs $190,000. Calculate based on a 15 percent down payment, 1.3 discount points on the loan, a 1.2 point origination fee, and $820 in other fees. The closing costs would be $. (Round to the nearest dollar.)The buyers paid $6,125 for a 1 point origination fee and a 1.5 discount point fee, what is the amount of their loan? If the buyers are obtaining an 80 percent LTV, what is the purchase price of their new home?You wish to buy a house for $170,000. You want to put down a down payment first, then mortgage the rest. How much would the down payment be and how much would the mortgage be for the following percentages? Answer to nearest whole dollar. a) 15% down payment b) mortgage loan amount after 15% down рayment c) 20% down payment d) mortgage loan amount after 20% down рayment
- A buyer wants to purchase a home for $150,000 with a 30% down payment. The lender charges 1.75 points. How much money does the buyer need up front to make the purchase?Rent versus Own Analysis compare the costs of owning a home against renting a home. Assume a home can be purchased for $180,000 with a $45,000 down payment and financed with a fully amortizing mortgage loan of $135,000 at 6.5 percent interest for 30 years. Other costs associated with owning include annual maintenance (initial cost of $750), insurance (initial cost of $1,600), and property taxes (initial cost of 2.5 percent of property value). These expenses would not need to be paid if renting. Assume that growth rates for expenses (including insurance, maintenance, and property taxes) equal to 2 percent per year. Assume the property value will grow at a rate of a constant 2 percent per year. After six years, the property will be sold. A selling expense of 7 percent would have to be paid at that time. Assume the income tax rate is 24 percent. Alternatively, assume the home can be rented for $15,000 for the first year, with an annual 2 percent growth rate in rent. Be sure to show your…Use the following information to answer the questions. Price of home to purchase- $300,000 Rate- 2.8% (15 year) 3.2% (30 year) Down Payment- $65,000 What would be your monthly payment on a 15 year loan, assuming $2,400 property taxes and $2,400 home insurance?
- You want to buy a home. You can borrow 95% of the purchase price. Assuming you can make a down payment of $12,000, what price can you pay for the home?A home is appraised at $330,000 and the buyer has negotiated a purchase price of $312,000. She hopes to mortgage $306,000. What is the loan-to-value ratio to the nearest percent? Is the lender likely to approve this mortgage without the buyer being required to purchase private mortgage insurance (PMI)? Loan-to-value ratio=?site, find another.) Type in a home price of $300,000. Leaving all other entries as they are, enter an interest of 3%. Then change it to 4%. Then change it to 5%. Record the monthly payment readouts for each interest rate. Be careful with your calculations below and accurate with your research so that this assignment is useful! 1a. What was the monthly payment fference cost between the 3% and 5% loans? 1b. Multiply that monthly cost difference by 360 (the number of months in a 30 year home loan). What is the result? This is what a borrower may be paying MORE than someone else over the life of that loan due to credit. 1c. Why are customers with high credit scores given loans with lower interest rates? Reference the notes above for help here. 1d. What does this research tell you about the importance of maintaining a "good" credit score (as best as