Suppose you have taken out a $425,000 fully amortizing fixed rate mortgage loan that has a term of 30 years and an interest rate of 5.5%. How much principal do you pay down in the entire 23rd year of the loan?

A buyer wants to purchase a home valued at $187,500, and the bank informs the buyer that if they take a loan under 80% in LTV, they need to budget for PMI payments. If the buyer wants to avoid PMI, what is the maximum amount of the loan they can take?

Suppose you have taken out a $425,000 fully amortizing fixed rate mortgage loan that has a term of 30 years and an interest rate of 5.5%. In month 70 of the mortgage, how much of the monthly mortgage payment does the interest portion consist of?

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