ase Term 1202 Remaining Time: 01.02.19 As a lender, go through the information provided and determine if the clients qualify for their loan request Jesiah and Cassandra Hamilton have been married for 2 years. They are presently living in an older home and have come to you seeking financing so that they can renovate their kitchen in their home. Josiah has priced out the renovation project and brought in some written estimates. He estimates the cost of the renovation to be $47,500 Jesiah and Cassandra want to repay the loan over 5 years. Jesiah has taken a building construction course at NAIT is excited to use the slots he has learned. The Hamilton's house is valued at $385,000. The mortgage was for $338,000 with a 5-year term, amortized over 25 years at 3.32% Please Calculate the Monthly Mortgage Payment 1663 582 (1 mark) 4 They have made 20 payments on the mortgage. Please calculate the balance owing on the loan 323887 1233 (1 mark This branch approved the mortgage. Taxes are $321 a month and heating is estimated at 5150 They currently have $9,000 in a joint savings account at the branch. Neither of them contributes to an RRSP Jesiah has clear title to some undeveloped property 80 miles west of Edmonton he inherited a few years ago. It is currently valued at $47,500. Eventually Jesiah would like to build a cabin on the property but realizes that this is a long term-goat Jesiah pays about $40 a month on the taxes Cassandra also has recently received an expensive painting from her grandmother valued at $20,000 with a certificate of authenticity Jesiah, 29, has been working for RV Word for 6 years. He grosses $83.640 annually as lead Heavy Duty Mechanic, much of this is overtime income Jesiah has provided his Notice of Assessments for his income verification as you has requested (see attached) Cassandra, 25, is in her last year at the U of A Cassandra works part-time at the U of A bookstore as a cashier she has provided a salary letter, she grosses approomately $15,000 per year. Her manager informed her she was going to receive a 5% increase neid month Question Menu