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Mortgage info Purchase price $4,800,000 Holding period 5 Down payment 30% Interest rate 4.0% Term 20 Amortization 20 Mortgage-Related Closing Costs Discount point (Lender) 1.50%
| Mortgage info | |
| Purchase price | $4,800,000 |
| Holding period | 5 |
| Down payment | 30% |
| Interest rate | 4.0% |
| Term | 20 |
| Amortization | 20 |
| Mortgage-Related Closing Costs | |
| Discount point (Lender) | 1.50% |
| Appraisal | $3,000 |
| Survey | $5,000 |
| Underwriting fee (Lender) | $500 |
| Origination fee (Lender) | 2.25% |
What would be the stated APR for this loan?
Hint: think about the only difference between APR and EBC
[answer format example: 1.23]
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International Corporate Finance
Authors: Mark R. Eaker, Frank J. Fabozzi, Dwight Grant
1st Edition
0030693063, 9780030693069
