please answer all questions, im stuck
7. An investor obtains a balloon mortgage with the terms shown below. Balloon Mortgage $530,000 30/7 balloon 6.8% annual rate What is the monthly payment on this mortgage? (3 points) $3,455.20 $3,678.58 $6,738.57 $7,947.40 8. A mortgage has the terms shown below. Balloon Mortgage $200,000 15/4 balloon 7% annual rate Initial Monthly Payment: $1,797.66 What is the amount of the balloon payment rounded to the nearest dollar? (4 points) $192,063 $113,712 $165,164 $166,127 9. A bank is advertising the following mortgage: Balloon Mortgage $245,000 20/4 balloon 5.8% annual rate Monthly Payment: $1,727.11 Balloon Payment: $216,789.79 What is the total cost of this balloon mortgage? (4 points) $414,506.40 $218,516.90 $210,042.34 $299,691.07 11. Gwen reeds a $200.000 mortgion and is offered two choices. The month payments for the fund rate and predicted payment for the ARM are shown Fund Rate Mortgage Year Monelypayment 1-30 $1072.64 Moustable Rate Mortgage Monthly Payment 1-5 $101227 60 $1152,36 Year What is the difference between the total come of the mortapes rounded to the parent hundred? (4 porte! 12800 $300 $15.300 $20,000 12. ses buying a house for $445.000. She obtain a mortgage in ese amount of $320.000 a 25% fed rate. The bank offers a 3.25% terest rate if Jessica peys 2.75 points. What is the cost of points for this mortgage rounded to the west coal points) $12,238 $8.965 $11.410 $10.595 13. A bank offers the following loans: Bank A Bank B $375,000 15-year fixed 4.925% 2.75 discount points M = $2,950.85 $375,000 15-year fixed 5.2% O discount points M = $3,004.69 What is the break-even point for the loans? (4 points) about 12 years about 17 years about 10 years about 16 years 14. A mortgage broker charges $3000 plus 2.3% of the mortgage amount. What is the mortgage broker fee for a $216,000 mortgage? (3 points) $5,300 $7,968 $4,968 $5,037 Istumeron purchased a house that sold for $317800. He obtained a mortgage of $299.300. The bank charged 2.75 points for an origination fee and 3.0decourt points. What was the total cost of the origination fee and discount points that Carreron pod? 3 points) $17.221.25 SA 98500 $18,227.50 $8.236.25 16. Brady purchased a home for $299.000. He made a 20% down payment and financed the remaining amount. The intangible tax is 0.2% Which of the following is the total amount of the intangible to? points) $478.40 $50.00 $47,310.00 $99.000 17. A mortgage nous of 600.000 The origination for the title 021 and there are 3 decent points Which of the following in the total cost of the origination for the intangible tax, and the discount points) $28.000 $32.000 620,000 $400 18. Duane a purchasing a home for $351,000. He makes a 30% down soyment and obtain a 20. yet fed rate mortgage loan at annual interest. His monthly payments are $1,621.59. He pays an intangible tax of 5:24 Which of the following is the total cost of principal interest, down payment, and amount of intangible tak? (4 points) $38.162.40 $49495380 549516440 5389653.80 19. Explaining complete sentences, the advantages and disadvantages of a baloon moet points 20. When is it not a good idea to purchase discount points on a mortgage? Explain in complete sentences. (6 points) B i V Font Family AA AFE 21. Why it is necessary to prorate expenses? Explain in complete sentences (6 points) 7. An investor obtains a balloon mortgage with the terms shown below. Balloon Mortgage $530,000 30/7 balloon 6.8% annual rate What is the monthly payment on this mortgage? (3 points) $3,455.20 $3,678.58 $6,738.57 $7,947.40 8. A mortgage has the terms shown below. Balloon Mortgage $200,000 15/4 balloon 7% annual rate Initial Monthly Payment: $1,797.66 What is the amount of the balloon payment rounded to the nearest dollar? (4 points) $192,063 $113,712 $165,164 $166,127 9. A bank is advertising the following mortgage: Balloon Mortgage $245,000 20/4 balloon 5.8% annual rate Monthly Payment: $1,727.11 Balloon Payment: $216,789.79 What is the total cost of this balloon mortgage? (4 points) $414,506.40 $218,516.90 $210,042.34 $299,691.07 11. Gwen reeds a $200.000 mortgion and is offered two choices. The month payments for the fund rate and predicted payment for the ARM are shown Fund Rate Mortgage Year Monelypayment 1-30 $1072.64 Moustable Rate Mortgage Monthly Payment 1-5 $101227 60 $1152,36 Year What is the difference between the total come of the mortapes rounded to the parent hundred? (4 porte! 12800 $300 $15.300 $20,000 12. ses buying a house for $445.000. She obtain a mortgage in ese amount of $320.000 a 25% fed rate. The bank offers a 3.25% terest rate if Jessica peys 2.75 points. What is the cost of points for this mortgage rounded to the west coal points) $12,238 $8.965 $11.410 $10.595 13. A bank offers the following loans: Bank A Bank B $375,000 15-year fixed 4.925% 2.75 discount points M = $2,950.85 $375,000 15-year fixed 5.2% O discount points M = $3,004.69 What is the break-even point for the loans? (4 points) about 12 years about 17 years about 10 years about 16 years 14. A mortgage broker charges $3000 plus 2.3% of the mortgage amount. What is the mortgage broker fee for a $216,000 mortgage? (3 points) $5,300 $7,968 $4,968 $5,037 Istumeron purchased a house that sold for $317800. He obtained a mortgage of $299.300. The bank charged 2.75 points for an origination fee and 3.0decourt points. What was the total cost of the origination fee and discount points that Carreron pod? 3 points) $17.221.25 SA 98500 $18,227.50 $8.236.25 16. Brady purchased a home for $299.000. He made a 20% down payment and financed the remaining amount. The intangible tax is 0.2% Which of the following is the total amount of the intangible to? points) $478.40 $50.00 $47,310.00 $99.000 17. A mortgage nous of 600.000 The origination for the title 021 and there are 3 decent points Which of the following in the total cost of the origination for the intangible tax, and the discount points) $28.000 $32.000 620,000 $400 18. Duane a purchasing a home for $351,000. He makes a 30% down soyment and obtain a 20. yet fed rate mortgage loan at annual interest. His monthly payments are $1,621.59. He pays an intangible tax of 5:24 Which of the following is the total cost of principal interest, down payment, and amount of intangible tak? (4 points) $38.162.40 $49495380 549516440 5389653.80 19. Explaining complete sentences, the advantages and disadvantages of a baloon moet points 20. When is it not a good idea to purchase discount points on a mortgage? Explain in complete sentences. (6 points) B i V Font Family AA AFE 21. Why it is necessary to prorate expenses? Explain in complete sentences (6 points)
