5. Calculating Monthly Mortgage Payments. Based on Exhibit 9-9, or using a financial calculator, what would be the monthly mortgage payments for each of the following situations? a. $120,000, 15-year loan at 4.5 percent. b. $86,000, 30-year loan at 5 percent. c. $105,000, 20-year loan at 6 percent.

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit 7-7. Note: Round your intermediate and final answers to the nearest whole dollar. Monthly gross income $ 4,850 Other debt (monthly payment) $260 20-year loan at 5 percent Down payment to be made (percent of purchase price ) 10 percent Monthly estimate for property taxes and insurance $ 385

Suppose you earn a gross income of $2,710.00 per month and apply for a mortgage with a monthly PITI of $501.35. You have other financial obligations totaling $428.18 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would you qualify for? Mortgage Type Housing Expense Ratio Total Obligations Ratio FHA 29% 41% Conventional 28% 36% O FHA only O Conventional only O FHA and Conventional O None of the above

Consider a home mortgage of $125,000 at a fixed APR of 4.5% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. ..... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Find the amount of interest and the maturity value of the following loan. Use the formula MV =P+I to find the maturity value. Round your answers to the nearest cent. Principal Rate (%) Time Interest Maturity Value $100,000 7 4 months

Find the amount (in $) of interest and the maturity value of the loans. Use the formula  MV = P + I  to find the maturity value. Principal Rate (%) Time Interest Maturity Value $97,000 8 1 4 4 1 2  years $  $

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer to  the images) Note: Round time value factor to 2 decimal places, intermediate and final answers to the nearest whole number.   Mortgage  Monthly gross income $ 4,700   Down payment to be made (percent of purchase price) 20%   Other debt (monthly payment) $ 260   Monthly estimate for property taxes and insurance $ 490   30-year loan 8.0%     1.) What is the affordable monthly mortgage payment? 2.) What is the affordable mortgage amount? 3.) What is the affordable house purchase price?

Suppose you earn a gross income of $2,915.00 per month and apply for a mortgage with a monthly PITI of $900.74. You have other financial obligations totaling $174.90 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would you qualify for? Mortgage Type Housing Expense Ratio Total Obligations Ratio FHA 29% 41% Conventional 28% 36% O FHA only O Conventional only O FHA and Conventional O None of the above

6. Based on Exhibit 7-7, or use of a financial calculator, what would be the monthly mortgage payments for each of the following situations? (LO7.3) a. A $160,000,15-year loan at 4.5 percent. b. A $215,000, 30-year loan at 5 percent. c. A $190,000, 20-year loan at 6 percent.

Please show how to solve using an excel spreadsheet: Suppose you borrow $250,000 PLAM (Price Level Adjusted Mortgage) for 30 years, monthly payments with $6,000 origination cost.  The mortgage rate is 6% with annual outstanding balance adjustments based on the following inflation information in the table attached.