the id number is 900202055. Calculate answers. show work.

Mortgage Refinance Suppose your friend April is considering to refinance her mortgage. She boupht her house 60 months ago. The amount of loan equals 1000 multiple the middle three digit of your student ID number. She pad cash to cover the 5% down payment plus all required closing costs (elosing costs include application fee, apprasal fee, loan oripination fees and other costs, usually about 3%5% of the loan amount). Since she had a decent credit history and relatively stable income, her mortgage rate was 6.25% for 30 years at the time of the purchase. Since her down payment was less than 20%, she had to pay monthly mortgage insurance premium which is $90 per month (premiums are automatically terminated uben the LTV ratio (loan-to-value ratio) falls below 80% ) Recently, mortgage rate has been dropping and she is considering to refinance her mortgage. She talked with a mortgage banker and got the following information: a) 5.75%30 year conventional loan with out-of pocket closing costs of 52,000 ; b) 5.5%30 year conventional loan with out-of-pocket closing costs of $3,000. c) 5.25%30 year conventional loan with out-of-pocket closing costs of $4,000 Based on the rocent appraisal, her house value has changed to $250,000 Please advise ber on the following: 1) Based on the information, please calculate her monthly mortgage payment on the original loan. Please show your process. 2) Please use online resources to show ber amortization table (please only print out her first 60 payments on the amortization table). How muxh principle has she paid off so far? How much irterest has she paid over the past 60 payments? 3) How much does she need to refinance now? Hint You noed to find her loan balance 4) Based on the new appraisal value, what is her LTV (loan-to-value) ratio now? 5) Does she still need to pay the mortgage insurance preminu after refinancing? Why? 6) How much should her monthly payment be under each option (2,b, and c) ? Show your calculations. 7) Would you suggest her to do the refinancing or not? Why? Notice that monthly payment is reduced but she need to make 360 payments plus closing costs under the new mortgage versus 300 payments in the old mortgage. 8) Which option would you suggest ber to take? What factors would affect ber choice and how? Mortgage Refinance Suppose your friend April is considering to refinance her mortgage. She boupht her house 60 months ago. The amount of loan equals 1000 multiple the middle three digit of your student ID number. She pad cash to cover the 5% down payment plus all required closing costs (elosing costs include application fee, apprasal fee, loan oripination fees and other costs, usually about 3%5% of the loan amount). Since she had a decent credit history and relatively stable income, her mortgage rate was 6.25% for 30 years at the time of the purchase. Since her down payment was less than 20%, she had to pay monthly mortgage insurance premium which is $90 per month (premiums are automatically terminated uben the LTV ratio (loan-to-value ratio) falls below 80% ) Recently, mortgage rate has been dropping and she is considering to refinance her mortgage. She talked with a mortgage banker and got the following information: a) 5.75%30 year conventional loan with out-of pocket closing costs of 52,000 ; b) 5.5%30 year conventional loan with out-of-pocket closing costs of $3,000. c) 5.25%30 year conventional loan with out-of-pocket closing costs of $4,000 Based on the rocent appraisal, her house value has changed to $250,000 Please advise ber on the following: 1) Based on the information, please calculate her monthly mortgage payment on the original loan. Please show your process. 2) Please use online resources to show ber amortization table (please only print out her first 60 payments on the amortization table). How muxh principle has she paid off so far? How much irterest has she paid over the past 60 payments? 3) How much does she need to refinance now? Hint You noed to find her loan balance 4) Based on the new appraisal value, what is her LTV (loan-to-value) ratio now? 5) Does she still need to pay the mortgage insurance preminu after refinancing? Why? 6) How much should her monthly payment be under each option (2,b, and c) ? Show your calculations. 7) Would you suggest her to do the refinancing or not? Why? Notice that monthly payment is reduced but she need to make 360 payments plus closing costs under the new mortgage versus 300 payments in the old mortgage. 8) Which option would you suggest ber to take? What factors would affect ber choice and how