900202065 is the id number. the middle three numbers are 202. answer all questions with exact number. show work.

Mortgage Refinance Suppose your friend Apnl is considering to refinance her mortgage, She bought her house 60 months ago. The amount of loan equals 1000 multiple the middle three digit of your student ID number She paid cash to cover the 5% down payment plus all roquired closing costs (elosing costs include application fee, appraisal fee, loan otigination fees and other costs, usually about 3%6.5% of the loan amount). Since she had a decent credit history and relatively stable income. her mortgage rate was 6.25% for 30 years at the time of the purchase. Since her down payment was less than 20%, she had to pay monthly mortgage insurance prenium which is $90 per month (premiums are automatically terminated when the LTV ratio (loan-to-value ratio) falls below 800\%). Recently, mortgase rate has been dropping and she is considering to refinance her mortgage. She talked with a morteage banker and got the followng information: a) 5.75%30 year conventional loan with out- of pocket closing costs of $2,000, b) 5.5%30 year conventional loan with out-of pocket closing costs of $3,000; c) 5.25%30 year cotrventional loan with out-of-pocket closing costs of $4,000. Based on the recent appraisal, her house value has changed to $250,000 Please advise her on the following: 1) Based on the information pleaso calculate her monthly mortgage payment on the original loan. Please ahow your process. 2) Please use online resources to nhow her amortization table (please only print out her first 60 payments on the amortization table). How much principle has the paid off so far? How much interest has she paid over the past 60 payments? 3) How much does she need to refinance now? Hint: You need to find her loan balance. 4) Basod on the new appraisal value, what is her LTV (loan-to-value) ratio now? 5) Does she still need to pay the mortgage insurance premium after refinancing? Why? 6) How much should her monthly payment be under each option ( a,b, and c)? Show your calculations. 7) Would you suggest her to do the refinancing or not? Why? Notice that monthly payment is roduced but the need to make 360 payments plus closing costs under the new mortgage versar 300 payments in the old mortgage. 8) Which option would you suggest her to take? What factors would affect her choice and how