- David has started filling out the paperwork for a mortgage to buy a house selling for $220000. He has $33000 for the down payment but doesnt want to purchase mortgage insurance. What will Davids mortgage lender most likely require? ( with formula please)

David will have to put up an additional $11000.

David will have to put up an additional $33000.

David will have to put up an additional $22000.

David will have to put up an additional $5000.

- You are considering buying a house for $290000. The principal and interest payment on a $205000 30-year mortgage at 6% APR is $1229. What would the payment be for a 15-year mortgage at 6% APR?

$1025

$806

$1730

$1450