Question
this is all one question Asking Price: $450,000 Amortization Period: 25 years Mortgage Rate: 2.78% a) What is the down payment amount ($) with 10%
this is all one question
Asking Price: $450,000
Amortization Period: 25 years
Mortgage Rate: 2.78%
a) What is the down payment amount ($) with 10% down?
b) What is the total mortgage required with 5% down?
c) What is the total mortgage required with 20% down?
d) What is the CHMC fee with 10% down?
e) What is the bi-weekly mortgage payment with 15% down?
f) What is the monthly mortgage payment with 10% down?
g) Looking at Amortization with the 5% scenario & monthly mortgage payments: How much total is paid every year?
g1) How much total interest is paid?
g2) In what year will the mortgage be paid off if the plan is followed?
g3) In what year does the interest paid first drop below $10,000?
g4) In what year does the principal paid first go over $20,000?
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