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You apply for a mortgage loan on a $350,000 condo using 85% loan-to-value. Going interest rates are 4.25%, but after thoroughly surfing the net, you
You apply for a mortgage loan on a $350,000 condo using 85% loan-to-value. Going interest rates are 4.25%, but after thoroughly surfing the net, you find a lender to grant you a loan at 3.75%. and jump on it. It's a 30 -year loan paid monthly. How much cash flow would you save during the first 5 years of the loan now that you've found the lower interest rate? (Round to the nearest dollar
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