Suppose you are looking to purchase a $600,000 house with an 80% Loan to Value (LTV) using a 30-year fixed rate mortgage with a rate of 5% that amortizes monthly.

What would the payment be in period 37 if it was Interest Only for the first 3 years? Answer rounding up to closer integer with thousand comma delimiter: ex enter $1000.18 as 1,000.

If interest rates on the original amortizing mortgage decrease from 5% to 3% by how much will the monthly payment decrease ____ and what income would you need to qualify if DTI remains at 36% ____ ? Answer rounding up to closer integer with thousand comma delimiter: ex enter $1000.18 as 1,000.

Suppose a household earns $100,000 annually and has $50,000 in savings available to spend on a downpayment. Available mortgages have a maximum Loan to Value (LTV) of 95%.

What is the maximum purchase price they can qualify for with a 15 year loan assuming a maximum DTI of 42% and interest rates of 7% (taking into account both LTV and DTI constraints)? Answer rounding up to closer integer with thousand comma delimiter: ex enter $1000.18 as 1,000.

What is the maximum purchase price they can qualify for if they are able to borrow over 30 years instead (taking into account both LTV and DTI constraints)? Answer rounding up to closer integer with thousand comma delimiter: ex enter $1000.18 as 1,000.