Question
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is $210,000 and the average balance in the first year
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is $210,000 and the average balance in the first year is $208,711. Given the following information on a 30-year fixed-payment, fully-amortizing loan, determine the total monthly loan payment: Interest rate: 6%; Annual premium for mortgage insurance (paid monthly): 0.85%.
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Handbook Of Hedge Funds
Authors: François-Serge Lhabitant
1st Edition
0470026634, 978-0470026632
