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(10 points total) Alisa purchased a $220,000 home. She made a 20% down payment. The bank charges $700 in fees plus 1.5% points. The mortgage
(10 points total) Alisa purchased a $220,000 home. She made a 20% down payment. The bank charges $700 in fees plus 1.5% points. The mortgage loan term is 20 years at a fixed annual interest rate of 3%. a) (2 points) Find the down payment and mortgage loan amount. b) (2 points) Compute the closing costs. c) (3 points) Find Alisa's monthly mortgage payment. d) (3 points) Suppose the annual property tax bill for this home is $4,400. The annual home insurance premium is $1,200. Find Alisa's total monthly payment for the mortgage, property tax, and home insurance
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