Question
Compare the current interest rates, costs, and features associated with a 15-year fixed rate mortgage, 30-year fixed rate mortgage, and an adjustable rate mortgage for
Compare the current interest rates, costs, and features associated with a 15-year fixed rate mortgage, 30-year fixed rate mortgage, and an adjustable rate mortgage for a home price of $150,000.
Please choose TWO Financial Institutions to research (For example, a Bank and Credit Union). After you have research this information please complete the following table below for each of the institution you selected:
| Company: | (1) Name | (2) Name |
| 15 Year Fixed rate, points, monthly payment |
|
|
| 30 Year Fixed rate, points, monthly payment |
|
|
| Adjustable rate monthly payment |
|
|
| Initial rate |
|
|
| Discount points |
|
|
| Adjustment period |
|
|
| Rate caps |
|
|
| Margin |
|
|
| Index |
|
|
| Fees |
|
|
| Loan application |
|
|
| Property appraisal |
|
|
| Survey |
|
|
| Credit report |
|
|
| Inspections |
|
|
| Title search |
|
|
| Title Insurance |
|
|
| Document preparation |
|
|
| Closing costs |
|
|
*** I'm having trouble finding the information to fill out this chart. It's driving me crazy trying to find it online. Can anyone help me out with this? Thanks.
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Finance For A Better World
Authors: Henri-Claude De Bettignies, F. Lépineux
2009th Edition
0230551300, 978-0230551305
