You are buying a house and will borrow $280,000 on a 30-year fixed rate mortgage with monthly payments to finance the purchase. Your loan officer has offered you a mortgage with an APR of 4.15 percent. Alternatively, she tells you that you can "buy down" the interest rate to 3.8 percent if you pay points up front on the loan. A point on a loan is 1 percent (one percentage point) of the loan value. How many points, at most, would you be willing to pay to buy down the interest rate? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) Maximum points
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- You are buying a house and will borrow $245,000 on a 25-year fixed rate mortgage with monthly payments to finance the purchase. Your loan officer has offered you a mortgage with an APR of 4.80 %. Alternatively, she tells you that you can "buy down" the interest rate to 4.45% If you pay points up front on the loan. A point on a loan is 1% (one percentage point) of the loan value. How many points, at most, would you be willing to pay to buy down the interest rate? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.164.) Maximimum pointsYou are buying a house and will borrow $225,000 on a 30-year fixed rate mortgage with monthly payments to finance the purchase. Your loan officer has offered you a mortgage with an APR of 4.55 percent. Alternatively, she tells you that you can "buy down" the interest rate to 4.35 percent if you pay points up front on the loan. A point on a loan is 1 percent (one percentage point) of the loan value. How many points, at most, would you be willing to pay to buy down the interest rate? (Do not round intermediate calculations and round your answer to 3 decimal places, e. g., 32.164.)You are buying a house and will borrow $360,000 on a 25-year fixed rate mortgage with monthly payments to finance the purchase. Your loan officer has offered you a mortgage with an APR of 4.45 percent. Alternatively, she tells you that you can “buy down” the interest rate to 4.1 percent if you pay points up front on the loan. A point on a loan is 1 percent (one percentage point) of the loan value. How many points, at most, would you be willing to pay to buy down the interest rate?
- You are buying a house and will borrow $275,000 on a 30-year fixed rate mortgage with monthly payments to finance the purchase. Your loan officer has offered you a mortgage with an APR of 4.10 percent. Alternatively, she tells you that you can "buy down" the interest rate to 3.75 percent if you pay points up front on the loan. A point on a loan is 1 percent (one percentage point) of the loan value. How many points, at most, would you be willing to pay to buy down the interest rate? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) Maximum pointsyou are buying a house and will borrow $225,000 on a 30-year fixed reate mortgage with monthly payments to finance the purchase. your loan officer has offered you a mortgage with an APR of 4.3%. Alternatively, she tells you that you can “ buy down ” the interest rate to 4.05% if you pay points up front on the loan is 1 % ( one percentage point) of the loan value. you believe that you will live in the house for only eight years before selling the house and buying another house. this means that in eight years, you will pay off the remaining balance of the original mortgage. how many points, at most, would you be willing to pay to buy down the interest rate? Question) maximum points?You can afford a $1200 per month mortgage payment. You've found a 30 year loan at 6.1% interest. a) How big of a loan can you afford? (Round to the nearest cent, as needed.) b) How much total money will you pay the loan company? (Round to the nearest cent, as needed.) S c) How much of that money is interest? (Round to the nearest cent, as needed.) Question Help: Video 1 Submit Question Video 2 Search wwww.gar a
- You can afford a $1200 per month mortgage payment. You've found a 30 year loan at 5.3% interest. a) How big of a loan can you afford? (Round to the nearest cent, as needed.) S b) How much total money will you pay the loan company? (Round to the nearest cent, as needed.) S c) How much of that money is interest? (Round to the nearest cent, as needed.) S Question Help: Video 1 Video 2 Submit Question Search hpYou plan to purchase a $320,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.20 percent. You will make a down payment of 15 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. (1) Construct the amortization schedule for the mortgage. b. (2) How much total interest is paid on this mortgage? Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Req B1 Amortization Schedule Month 1 2 3 179 180 Construct the amortization schedule for the mortgage? (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Req 82 Total Interest Amortization Schedule for the 15-Year Mortgage Interest Cumulative Principal Principal 272,000.00 270,999.26 Cumulative Interest Ending BalanceSuppose you are buying your first condo for $190,000, and you will make a $10,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at 3.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be? You are not required to show calculations. However to receive credit you must provide the inputs used (N, PMT, FV, I/Y, PV) to solve. If you utilize a template, you can copy and paste the section used in the submission. $808.28 $853.18 $527.78
- You can afford a $1400 per month mortgage payment. You've found a 30 year loan at 8% interest. a) How big of a loan can you afford? Round your answer to the nearest dollar. b) How much total money will you pay the loan company? Round your answer to the nearest dollar. c) How much of that money is interest? Round your answer to the nearest dollar. Question Help: D Post to forum Submit QuestionSuppose you purchase a house using a 30-year fixed rate mortgage. The APR on the loan is 3.2% and you will be required to make monthly payments of $3,700 what is the price you paid for your home?You can afford monthly payments of $800. If current mortgage rates are 3.06% for a 15-year fixed rate loan, how much can you afford to borrow? If you are required to make a 20% down payment and you have the cash on hand to do it, how expensive a home can you afford? (Hint: You will need to solve the loan payment formula for P.)