Use the amortization chart on page \#3 1. A contract for the purchase of real estate shows a sales price of $275,000. The appraised value came in at $282,000. The down payment will be based on what amount? 2. The purchase price of a property is $154,000 and the appraisal supports the sale price. If the purchaser is obtaining a 90% loan to value mortgage, a) what is the mortgage amount? b) what is the down payment amount? a) b) 3. You're paying 30% down on a house you've agreed to purchase for $160,000. What will your mortgage amount be? 4. If you are paying $210,000 for a house and paying 20% down. The bank is charging 2 points. What is the dollar amount you will pay in points? 5. The bank will make you a 85% LTV mortgage on a property valued at $145,000, and will charge 2 points. How much cash will you need at closing for the down payment and points? Amortization Chart Monthly Payment Per $1,000 of Mortgage