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Suppose you take out a 30-year mortgage for a house that costs $390,284. Assume the following: The annual interest rate on the mortgage is 4.1%.
Suppose you take out a 30-year mortgage for a house that costs $390,284. Assume the following: The annual interest rate on the mortgage is 4.1%. The bank requires a minimum down payment of 13% at the time of the loan. The annual property tax is 2.3% of the cost of the house. The annual homeowner's insurance is 1.2% of the cost of the house. There is no PMI If you make the minimum down payment, what will your monthly PITI be? Round your answer to the nearest dollar.
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