Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You applied for a 28 -year HIBOR mortgage loan for buying a property valued at $5,800,000. The interest rate is H+1.35, capped at P2.8%, where

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

You applied for a 28 -year HIBOR mortgage loan for buying a property valued at $5,800,000. The interest rate is H+1.35, capped at P2.8%, where the current HIBOR is 0.03% and Prime Rate is 5.25%. Assuming the HIBOR and Prime Rate do 1 not change during the loan period, what is your monthly repayment a mount if the loan-to-value ratio is 60% ? You applied for a 25-year Prime Rate mortgage loan for buying a property valued at $9,800,000. The interest rate P2.65% is compounded monthly, where the current Prime Rate is 5.5%. Assuming the Prime Rate does not change during the loan period and the payment is paid monthly, what is your total interest expense if the loan-to-value ratio is 90% ? Assume you opt for single MIP premium payment nxithout financinor Question 3 You applied for a 30-year HIBOR mortgage loan for buying a property valued at $9,800,000. If you want to get a mortgage with an 85% loan-to-value ratio, what is the single MIP premium payment? Question 4 Your monthly salary is $60,000 and you are applying for a 30 -year mortgage for a self-use residential property (and assuming you do not have any other mortgage loans). What is the maximum loan fit Struss Test, assuming a a mount you could borrow if the annual interest rate is 1.15% for the entire loan period and interest is 200 bassis point luike itt 1 compounded monthly? Assuming there is no MIP. itterest rates You applied for a 28 -year HIBOR mortgage loan for buying a property valued at $5,800,000. The interest rate is H+1.35, capped at P2.8%, where the current HIBOR is 0.03% and Prime Rate is 5.25%. Assuming the HIBOR and Prime Rate do 1 not change during the loan period, what is your monthly repayment a mount if the loan-to-value ratio is 60% ? You applied for a 25-year Prime Rate mortgage loan for buying a property valued at $9,800,000. The interest rate P2.65% is compounded monthly, where the current Prime Rate is 5.5%. Assuming the Prime Rate does not change during the loan period and the payment is paid monthly, what is your total interest expense if the loan-to-value ratio is 90% ? Assume you opt for single MIP premium payment nxithout financinor Question 3 You applied for a 30-year HIBOR mortgage loan for buying a property valued at $9,800,000. If you want to get a mortgage with an 85% loan-to-value ratio, what is the single MIP premium payment? Question 4 Your monthly salary is $60,000 and you are applying for a 30 -year mortgage for a self-use residential property (and assuming you do not have any other mortgage loans). What is the maximum loan fit Struss Test, assuming a a mount you could borrow if the annual interest rate is 1.15% for the entire loan period and interest is 200 bassis point luike itt 1 compounded monthly? Assuming there is no MIP. itterest rates

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions