HI,

Please, I need help with these. Thank you.

Cas Section 2 - Down Payment X X Please enter the dollar amount of a 6.42% down payment. CMHC WEBSITE Current Home Price is: $449900 Down Payment: Mortgage Amount Submit Section Value: 2Section 3 CMHC Calculation X Please determine the CMHC premium amount based on balance outstanding on a traditional down payment type. CMHC WEBSITE Current Mortgage Amount Is: $ CMHC Premium Mortgage Amount Submit Section Value: 2Section 4 - Mortgage Calculation X Instructions You Have Decided to use a 25 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.66%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 4 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question Amortization Do Sections 1-3 Prior to 25 Years Section 4 P/Y C/Y Present Value of Loan (PV P1 Months P2 Months Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) 3.66 Section Value: 7 INTEREST PAID (INT) Submit AnswersSection 5 - Mortgage Calculation X Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.66% with a 20 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 1 Years and 4 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question Amortization Do Sections 1-3 Prior to Section 4/5 20 Years P /Y C/Y Present Value of Loan (PV P1 Months P2 Months Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) 3.66 Section Value: 7 INTEREST PAID (INT) Submit AnswersMortgage Calculations X Instructions Section Value: 13 Please determine the amortization for the following two payment frequencies using the mortgage amount: $. Submit Answers Monthly PMT from Section 4 (HINT: Solve for N and adjust your mortgage payment from section 4.MAKE SURE YOUR PMT IS NEGATIVE.) Mortgage Rate As % (1/Y) Present Value of Loan (PV Value At End of Loan (FV) 3.66 Question 1: Question 2: Payment Frequency 1 Formulas for coverting Payment Frequency 2 Accel. Weekly payment frequencies are in Chapter 7 of Bi-Weekly P/Y C/Y your textbook. P/Y C/Y Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) Amortization in Years (2 Decimals) Amortization in Years (2 Decimals)-Section 7 - Property Tax X Instructions The City of Edmonton has assessed your property at a value of $403293.77 and the Mill Rate is 8.6869. What are the Annual and Monthly property tax amounts? Annual Property Tax Amount Monthly Property Tax Amount Instructions You will be getting possession of the home on April 1 st. What will the property tax adjustment be? Who will have to pay? Adjustment Amount Who Pays Adjustment? Section Value: 6 Submit AnswersSection 8 - Qualification X Part 1 With your Annual Income of: $149774.24 and the figures you already determined for a Stress Tested Monthly Mortgage Payment, and Property Tax of $, calculate Gross Debt Service Ratio. Assume the cost of heating the home will be $345.14. Do you qualify to purchase this home based on GDS Ratio? If not, what is the income that you would require? Total Monthly GDS Expenses GDS Ratio as a % | ie: 3.45% - Do they Qualify on GDS? Part 2 If you have consumer debt servicing in the amount of $749.11 per month. What is the the TDS ratio? Do you qualify for the purchase based on this number? If no, what is the income required to qualify? Total Monthly TDS Expenses TDS Ratio as a % | ie: 3.45% Do they Qualify on TDS? Section Value: 9 Submit Answers