Instructions Put The Price of the Home you chose in this Box. MLSID# Will be found on the listing. House Price What is the Price of The Home You Chose? Property Value is too low. Section 2 - Down Payment Please enter the dollar amount of a 7.83% down payment. CMHC WEBSITE Current Home Price is: $ Down Payment: Mortgage Amount ection 3 CMHC Calculation Please determine the CMHC premium amount based on balance outstanding on a traditional down payment type. CMHC WEBSITE Current Mortgage Amount Is: $ B CMHC Premium Amount Mortgage Amount Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 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 3.75%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 years and 7 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question Do Sections 1-3 Prior to 20 Years Section 4 P/Y -C/Y Present Value of Loan (P\- Amortization P1 Months P2 Months Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Value At End of Loan (FV - PRINCIPAL PAID (PRN) Mortgage Rate As % (V/Y) - 3.75 Section Value: 7 INTEREST PAID (INT) Submit Answers Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.75% with a 25 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 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. Amortization 25 Years Mortgage Amount From Previous Question Do Sections 1-3 Prior to Section 4/5 -P/Y C/Y P1 Months P2 Months Present Value of Loan (P\ - OM Number of Periods N) Monthly Payment (PMT) BALANCE OWING (BAL) - Value At End of Loan (FV - PRINCIPAL PAID (PRN) Mortgage Rate As % (1/8) Section Value: 7 INTEREST PAID (INT) Submit Answers Mortgage Calculations Section Value: 13 Instructions 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.) Value At End of Loan (FV) Mortgage Rate As % (V/Y) Present Value of Loan (P\- 3.75 Question 1: Question 2: Payment Frequency 1 Weekly Formulas for coverting payment frequencies artin Chapter 7 of your textbook. Payment Frequency 2 Accel. Bi-Weekly -P/Y C// P/Y C/Y Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) Amortization in Year Dermal Amortization in Yaare 12 Narimale 14C 0
