Purchasing a House (questions on next page): Latoya and Sam are ready to purchase their first home in Lewisville. They contracted with a seller where the final price on the home is $323,000. Calculate the following and make your recommendations: New Home purchases: $323,000 (final cost) \begin{tabular}{|c|c|c|} \hline \multicolumn{2}{|c|}{ New Home Financing - FHA 3.5% down } \\ \hline \multicolumn{1}{|c|}{ Term in Years } & 15 & 30 \\ \hline Down Payment & 3.5% & 3.5% \\ \hline APR (including fees) & 6.00% & 7.25% \\ \hline Monthly Payment (without MiP) & & \\ \hline Monthly Payment (with MiP) & & \\ \hline Total Interest Paid & & \\ \hline Monthly MIP (1\% Paid for all of the loan) & & \\ \hline \end{tabular} \begin{tabular}{|r|r|r|} \hline Total MIP Paid & & \\ \hline Total Interest and MIP paid & & \\ \hline Total Payments & & \\ \hline Total Cost & \\ \hline \end{tabular} Purchasing a House (questions on next page): Latoya and Sam are ready to purchase their first home in Lewisville. They contracted with a seller where the final price on the home is $323,000. Calculate the following and make your recommendations: New Home purchases: $323,000 (final cost) \begin{tabular}{|c|c|c|} \hline \multicolumn{2}{|c|}{ New Home Financing - FHA 3.5% down } \\ \hline \multicolumn{1}{|c|}{ Term in Years } & 15 & 30 \\ \hline Down Payment & 3.5% & 3.5% \\ \hline APR (including fees) & 6.00% & 7.25% \\ \hline Monthly Payment (without MiP) & & \\ \hline Monthly Payment (with MiP) & & \\ \hline Total Interest Paid & & \\ \hline Monthly MIP (1\% Paid for all of the loan) & & \\ \hline \end{tabular} \begin{tabular}{|r|r|r|} \hline Total MIP Paid & & \\ \hline Total Interest and MIP paid & & \\ \hline Total Payments & & \\ \hline Total Cost & \\ \hline \end{tabular}