# 5 Thank you!

O Hazard insurance D Question 5 1 pts You have been offered a 30-year mortgage at 4.00% for $400,000. The original loan to value is 90% and thus the loan requires PMI. The PMI payment is $125 per month and will automatically terminate in the first month where the balance is below 78% LTV. Which is the first month of the loan where the beginning balance is less than 78% LTV? Question 6 1 pts You have been offered a 30-year mortgage at 6.00% for $300,000. The original loan to value is 90% and thus the loan requires PMI. The loan requires PMI payments of $120 per month for 100 payments. What is the effective interest rate on this loan if paid over the 30-year period? Please input your answer as a percentage (ie: 7.52% would be input as 7.52). 1 pts Question 7 23 C G Search or type URL # 3 % 5 on & 7 4 6 00 8 9 0 E R T Y U 1 D F G H J