Given the following information on an FHA 30-year fixed-payment loan, determine the Up Front Mortgage Insurance Premium amount. Purchase price: $400,000. LTV: 97%. Interest Rate: 7%, UFMIP: 1.75. MMI 1.25. Monthly Escrow payment of Taxes and Insurance: $350. A. $7730 B. $7000 C. $6790 D. $5658

Given the information in above question, what would the Monthly Mortgage Insurance payment and TOTAL payment be?

A. $411.24 & $3342.61

B. $565.83 & $3542.38

C. $411.24 & $3387.79

D. $565.83 & $3342.61