Property sales price $550,000. 2,025 SF Office/Retail Condo Unit.

Suppose you need to borrow a mortgage of 80% of the sale price. Go to different bank websites to find a fixed rate loan option. If you only have the property for 5 years, what will be your mortgage outstanding balance? In the report, you should include your property information and loan information. For your loan amortization table for first 12 months, show your calculation steps for at least 2 months. You should also show your calculation steps for the 5 year balance.