.8% = .008

9000 Alte O Alternatively, the couple could obtain FHA mortgage financing with a 95 percent loan to value mortgage on the same property at the rate of 5.5% for 30 years and 4% closing costs. However, with the FHA loan, an additional 1.75% is required at closing for the FHA mortgage insurance premium in addition to the 4% closing costs. Also, an additional.8% of the outstanding mortgage loan balance is added to the monthly FHA mortgage payment for the required FHA mortgage insurance annual premium. Compute the following for the FHA mortgage loan: 250 20x1.75% 250,00 44% Down Payment Required 12,90 Amount of the Total Closing Costs $_14,375 Amount of the new mortgage loan $_ new mortgage loan s_231,500 Monthly Mortgage Payment including FHA Insurance: Annual Percentage Rate_ 9000 Alte O Alternatively, the couple could obtain FHA mortgage financing with a 95 percent loan to value mortgage on the same property at the rate of 5.5% for 30 years and 4% closing costs. However, with the FHA loan, an additional 1.75% is required at closing for the FHA mortgage insurance premium in addition to the 4% closing costs. Also, an additional.8% of the outstanding mortgage loan balance is added to the monthly FHA mortgage payment for the required FHA mortgage insurance annual premium. Compute the following for the FHA mortgage loan: 250 20x1.75% 250,00 44% Down Payment Required 12,90 Amount of the Total Closing Costs $_14,375 Amount of the new mortgage loan $_ new mortgage loan s_231,500 Monthly Mortgage Payment including FHA Insurance: Annual Percentage Rate_