Assume that your annual property taxes will be % of the value of your home. Find the property taxes: Annual property taxes? _____________ Monthly property taxes? __________ What is the TOTAL required monthly payment for your home? Note that Escrow is your monthly home owners insurance + property taxes. Fill in the blanks below: 15 year

What is the TOTAL required monthly payment for your home? Note that Escrow is your monthly home owners insurance + property taxes. Fill in the blanks below:

15 year

Mortgage Payment _________

Escrow _________

Total Monthly

Payment _________

30 year

Mortgage Payment _________

Escrow _________

Total Monthly

Payment _________For consistency, the following calculations will not be done with the data from your house; instead, use a principal value of $150,000 so that the effects of changing one variable at a time can be explored.

1. The first manipulation will be the interest rate. Choose three lower rates than the example (5.5%) and fill in the table below using the mortgage calculator youve chosen.