Joe smith

College of Engineering, Computer Science and Tec ME 3000 (02) - Economics for Engineers Project Two Joe Smith, a young engineer has planned to buy a house that they could afford. He and his spouse have been saving even before getting married and have put away about $85000 The average price of a startup house or condo is around 550000 Dollars here in Los Angeles or Southern California. You are requested to research the following terms Truth in lending HUD-1 Mortgage Insurance, settlement and RESPA in a loan documents and over internet. They have the following options to take a conventional loan; 1, 30-years fixed (% 20 down) note rate: 4.375% . cost: 0.0 points 2, 15-years fixed (% 20 down) note rate: 3.75% cost: 0.0 points 3. 5-years ARM Interest only (zero down) note rate: 4.125% (first 5-years), then variable cost: 1.25 points You are asked to make valid assumptions, show all calculations &have the final results in a table on the first page also a copy of a Truth in lending, HUD-1 of a REAL loan must be attached to the project. Total cost of the Loan. Total interest to be paid. The APR (including the cost of loan). . The monthly payments Go College of Engineering, Computer Science and Tec ME 3000 (02) - Economics for Engineers Project Two Joe Smith, a young engineer has planned to buy a house that they could afford. He and his spouse have been saving even before getting married and have put away about $85000 The average price of a startup house or condo is around 550000 Dollars here in Los Angeles or Southern California. You are requested to research the following terms Truth in lending HUD-1 Mortgage Insurance, settlement and RESPA in a loan documents and over internet. They have the following options to take a conventional loan; 1, 30-years fixed (% 20 down) note rate: 4.375% . cost: 0.0 points 2, 15-years fixed (% 20 down) note rate: 3.75% cost: 0.0 points 3. 5-years ARM Interest only (zero down) note rate: 4.125% (first 5-years), then variable cost: 1.25 points You are asked to make valid assumptions, show all calculations &have the final results in a table on the first page also a copy of a Truth in lending, HUD-1 of a REAL loan must be attached to the project. Total cost of the Loan. Total interest to be paid. The APR (including the cost of loan). . The monthly payments Go