1.Find the total monthlypayment, including taxes and insurance.

Mortgage : 89,400

Interest Rate : 3.5 %

Term of Loan : 15 years

Annual Taxes : 906

Annual Insurance : 333

The total monthly payment is?

.

(Round to the nearest cent asneeded.)

2.The table shows closing costs for a purchase of a $183,000 house requiring a 21% down payment. Find the total closing costs.

Title insurance premium : $240

Document recording fee :$30

Loan fee (3 points)

Appraisal fee :$225

Prorated property taxes :$651

Prorated insurance premium :$300

What are the total closing costs?

3.Suppose you want to purchase a $296,000 home, and you have the required $61,000 down payment in savings. Complete the table below for a mortgage option presented by a mortgage broker. Complete the table below.

Principal : 235,000

Interest Rate : 4.500%

Terms(years) : 25

Payment : ?

Total of Payments

over Life of Loan :

Total Interest Paid

over Life of Loan :

Round to the nearest cent as needed.)