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# 3 . To buy your dream home you use a 4 1 6 reset loan that pays interest only ( bullet loan ) for
# To buy your dream home you use a reset loan that pays interest only bullet loan for the first years, followed with a reset payment to amortize over the remaining years. The loan amount is $ at with discount points to the lender and $ in third party closing costs which the borrower must pay.
a What net amount does the lender disburse?
b What net amount do you as a borrower receive?
c What is your monthly payment during the first years?
d What is your monthly payment during the remaining years?
e What is the FTLAPR on this loan?
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