Say that you purchase a house for $$296,000$ by getting a mortgage for $$260,000$ and paying a $$36,000$ down payment. If you get a $30-$year mortgage with an interest rate of $6$ percent, what are the monthly payments?

What would the loan balance be in ten years?

If the house appreciates at $2$ percent per year, what will be the value of the house in ten years?

How much of this value is your equity?