Question
Calculate the monthly mortgage payment for the following applicants: Mortgage amount: $235,000 Interest rate: 4.00% Term: 30 years Real Estate Taxes per year: $5,000 Homeowners
- Calculate the monthly mortgage payment for the following applicants:
Mortgage amount: $235,000
Interest rate: 4.00%
Term: 30 years
Real Estate Taxes per year: $5,000
Homeowners insurance per year: $1,200
Private Mortgage Insurance: $210 per month
If the borrowers earn $6,800 a month, what is their HTI? Do they qualify for this loan if the max HTI at the bank is 33%?
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Accounting
Authors: Carl S. Warren, James M. Reeve, Philip E. Fess
19th Edition
0538869720, 978-0538869720
