Question
Inputs: Purchase Price = $200,000, Down Payment = $10,000 (5%), Start Interest Rates = 4%, Loan Term = 30 years, Monthly Liabilities = $450 (car
Inputs: Purchase Price = $200,000, Down Payment = $10,000 (5%),
Start Interest Rates = 4%, Loan Term = 30 years, Monthly Liabilities = $450 (car loan),
Under Monthly Housing Expense input Real Estate Taxes + $3,000 annually, Hazard Insurance = $800 annually, Dues or Fees = $0. Click Calculate. Click View Report.
What is the required annual income required for a 4% loan? ___________
What is the required annual income required for a 5% loan? ___________
What is the Private Mortgage Insurance (PMI) monthly payment?
Change the loan term to 15 years, keeping all other amounts the same.
What is the required annual income required for a 4% loan? ___________
What is the required annual income required for a 5% loan? ___________
From the report can you provide the maximum debt to income ratio for the PITI (Principal, Interest, Taxes, Insurance)?
D/I = ____%
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Financial Accounting Reporting Analysis And Decision Making
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
5th Edition
9780730313748
