parents shop around and a different bank is willing to lend them a $750,000 30-year mortgage with payments of $4,865 per

You need a 25-year, fixed-rate mortgage to buy a new home for $240,000. Your mortgage bank will lend you the money at an APR of 5.35 percent for this 300-month loan. However, you can afford monthly payments of only $800, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $800? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Balloon payment

What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is $135.00? (Round any fraction to the next higher day.) O 162 days O 163 days O 164 days O 165 days

You can afford a $1300 per month mortgage payment. You've found a 30 year loan at 6% interest.a) How big of a loan can you afford?$b) How much total money will you pay the loan company?$c) How much of that money is interest?

You have just made an offer on a new home and are seeking a mortgage. You need to borrow $620,000. a. The bank offers a 30​-year mortgage with fixed monthly payments and an interest rate of 0.53% per month. What is the amount of your monthly payment if you take this​ loan? b. Suppose you take the 30​-year mortgage described in part ​(a​). How much will you still owe on the mortgage after 10 ​years? a. The bank offers a 30​-year mortgage with fixed monthly payments and an interest rate of 0.53% per month. What is the amount of your monthly payment if you take this​ loan?   Your monthly payment will be ​$nothing. ​(Round to the nearest​ cent.) b. Suppose you take the 30​-year mortgage described in part ​(a​). How much will you still owe on the mortgage after 10 ​years?   The remaining loan amount will be ​$nothing. ​

Answer the following question using a spreadsheet and the material in the appendix. You would like to buy a house. Assume that given your income, you can afford to pay $12,000 a year to a lender for the next 30 years. If the interest rate is 7% how much can you borrow today based on your ability to pay? What about if the interest rate is 3%? Maximum mortgage at 7%: $     Maximum mortgage at 3%: $

Suppose you want to purchase a house. Your take-home pay is $4270 per month, and you wish to stay within the recommended guidelines for mortgage amounts by only spending 1/4 of your take-home pay on a house payment. You have $18,500 saved for a down payment and you can get an APR from your bank of 5.7%, compounded monthly. What is the total cost of a house you could afford with a 3030-year mortgage? Round your answer to the nearest cent, if necessary.

You are thinking of purchasing a house. The house costs $354,000. You have $45,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 25-year mortgage that requires annual payments and has an interest rate of 6% per year. What will be your annual payment if you sign this mortgage?

You want to buy a house for $250,000.  The bank requires a down payment of 25%.  What is the amount of the mortgage loan the bank will provide for you?  Round to the nearest $ and use the $ symbol.

Suppose your gross monthly income is $5,300 and your current monthly payments are $575. If the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%? (Round your answer to the nearest cent.)