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Please write the process for each question, thank you There are a variety of financing options to purchase a home. Below are several different loans
Please write the process for each question, thank you
There are a variety of financing options to purchase a home. Below are several different loans with their respective detail Answer the following questions and then write an analysis of your findings Property Value Increase in rate if 2nd Mortgage used ARM Rate after adjustment 350,000.00 150% 00% 2 Year Interest Only with 2nd Mortgage On 15% of 30Year Fixed Rate 30 Years 15 Year Fixed Rate 15 Years ARM 5-30 50%, 00% 4500 1ARM y value 10 7-30 2-30 15 Years Term Interest Rate Required Percent Down Closing costs Origination Points 00% 00% 00% 3000 4500 5000 1250 14 7What is the monthly payment for each loan? 2 If held until matunity, how much interest will be paid under each scenario? 3 What is the Effective Borrowing Cost (%) for each loan? 04 How much will your balloon payment be for in loan [5]? 215 How much of your payment is interest in the 1st month of the 5th year of option [1]? 22 6How much more interest will you pay in option (1] compared to option 121? 7 What is the remaining balance in the 6th month of the 6th year for option [2)? 8 How much will your payment increase in each scenario if you take out a second mortgage? There are a variety of financing options to purchase a home. Below are several different loans with their respective detail Answer the following questions and then write an analysis of your findings Property Value Increase in rate if 2nd Mortgage used ARM Rate after adjustment 350,000.00 150% 00% 2 Year Interest Only with 2nd Mortgage On 15% of 30Year Fixed Rate 30 Years 15 Year Fixed Rate 15 Years ARM 5-30 50%, 00% 4500 1ARM y value 10 7-30 2-30 15 Years Term Interest Rate Required Percent Down Closing costs Origination Points 00% 00% 00% 3000 4500 5000 1250 14 7What is the monthly payment for each loan? 2 If held until matunity, how much interest will be paid under each scenario? 3 What is the Effective Borrowing Cost (%) for each loan? 04 How much will your balloon payment be for in loan [5]? 215 How much of your payment is interest in the 1st month of the 5th year of option [1]? 22 6How much more interest will you pay in option (1] compared to option 121? 7 What is the remaining balance in the 6th month of the 6th year for option [2)? 8 How much will your payment increase in each scenario if you take out a second mortgage
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