Yara owns a home that was recently appraised for $183,000. The balance on the existing mortgage is $83,600. If Yara's bank is willing to loan up to 76% of the appraised value, find the potential amount of credit available on a home equity loan. $55,480 $63,536 $99,400 $139,080
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Yara owns a home that was recently appraised for $183,000. The balance on the existing mortgage is $83,600. If Yara's bank is willing to loan up to 76% of the appraised value, find the potential amount of credit available on a home equity loan.
$55,480
$63,536
$99,400
$139,080
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- Yara owns a home that was recently appraised for $181,000. The balance on the existing mortgage is $84,200. If Yara's bank is willing to loan up to 73% of the appraised value, find the potential amount of credit available on a home equity loan. O $47,930 O $61,466 O $96,800 $132,130 * O 0 o oX and Y own a home recently appraised for $317,400. The balance on their existing mortgage is $214,074. If their bank is willing to loan up to 70% of the appraised value, what is the amount of credit available to them (in $)?Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing mortgage is $113,087. If their bank is willing to loan up to 80% of the appraised value, what is the amount of credit available to them (in $)? $ ______ Answer is not 338,000 or 224,911
- Ronald and Samantha Brady recently had their condominium in Port Isaac appraised for $323,600. The balance on their existing first mortgage is $154,720. If their bank is willing to loan up to 75% of the appraised value, what is the amount (in $) of credit available to the Bradys on a home equity line of credit? ______$Ronald and Samantha Brady recently had their condominium in Port Isaac appraised for $322,800. The balance on their existing first mortgage is $154,920. If their bank is willing to loan up to 75% of the appraised value, what is the amount (in $) of credit available to the Bradys on a home equity line of credit? $ Need Help? Read ItNoor is buying a home with a $200,000 mortgage using a 5.5 percent, 30-year loan. How much of the first month's payment will go toward the principal if the payment per $1000 on this loan is $5.6779? O a. $917 O b. $219 O c. $0 O d. $538
- You own a home that was recently appraised for $330,000. The balance on your existing mortgage is $129,450. If your bank is willing to loan up to 80% of the appraised value, what is the potential amount (in $) of credit available on a home equity loan? 2$ Need Help? Master It Read It Watch ItYou borrow $100,000 from a bank to buy a house. Is this mortgage loan an asset or liability on the bank's balance sheet? Question 29 options: Asset Liabilityplease answer with correct calculations and explanations. QUESTION: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed. Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).
- You are a loan officer at the West Elm Savings and Loan. Mr. and Mrs. Brady are in your office to apply for a mortgage loan on a house they want to buy. The house has a market value of $170,000. Your bank requires 1 5 of the market value as a down payment. (a) What is the amount (in $) of the down payment? $ (b) What is the amount (in $) of the mortgage for which the Bradys are applying? $ (c) Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. What is the amount (in $) of the principal and interest portion of the Bradys' monthly payment? $ (d) What is the total amount (in $) of interest that will be paid over the life of the loan? $ (e) Your bank also requires that the monthly mortgage payments include property tax and homeowners insurance payments. If the property tax is $1,710 per year and the property insurance is $1,458 per…You are a loan officer at the West Elm Savings and Loan. Mr. and Mrs. Brady are in your office to apply for a mortgage loan on a house they want to buy. The house has a market value of $170,000. Your bank requires 1 5 of the market value as a down payment. (a) What is the amount (in $) of the down payment? $ (b) What is the amount (in $) of the mortgage for which the Bradys are applying? $ (c) Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. What is the amount (in $) of the principal and interest portion of the Bradys' monthly payment? $ (d) What is the total amount (in $) of interest that will be paid over the life of the loan? $ (e) Your bank also requires that the monthly mortgage payments include property tax and homeowners insurance payments. If the property tax is $1,710 per year and the property insurance is…Stephen has just purchased a home for $128000 A mortgage company has approved his loan application for a 30-year fixed-rate loan at 4.75 %. Stephen has agreed to pay 30% of the purchase price as a down payment. Find the down payment, amount of mortgage, and monthly payment. LOADING... Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed. Question content area bottom Part 1 The down payment is about? (Round to the nearest cent as needed.) Part 2 The mortgage amount is about? (Round to the nearest cent as needed.) Part 3 The monthly mortgage payment is about? (Round to the nearest cent as needed.)