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Brad and Sam take a 30-year mortgage for a house that costs $211,827. Assume the following: The annual interest rate on the mortgage is 4.1%.
Brad and Sam take a 30-year mortgage for a house that costs $211,827. Assume the following: The annual interest rate on the mortgage is 4.1%. The bank requires a minimum down payment of 16% of the cost of the house. The annual property tax is 1.2% of the cost of the house. The annual homeowner's insurance is $605. There is no PMI. If they make the minimum down payment, what will their monthly PITI be? Round your answer to the nearest dollar
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