You are buying a Condo, and the Seller accepts your offer at $$169,000.$ You learn that there are several cost associated with the purchase, and you are concerned if you have enough money to make it happen because you have only set aside $$15,000$ for this purchase.... Please save your file with your last name added to the file, and s$1.$ Down Payment is $3\%$ of Purchase Price

$2.$ Taxes are $$3,149\mathrm{.}00$ per year, and $1\mathrm{.}5$ are due at closing

$3.$ Interest Rate on Mortgage is $2\mathrm{.}5\%$

$4.$Length of Loan is $30$ years

$5.$ Home Owners Insurance is $$660\mathrm{.}00/$year$($to be paid at closing and kept in escrow$)$

$6.$ Monthly PMI $ $72\mathrm{.}00($to be included in monthly mortgage payment$)$

$7.$ Homeowners Association $($HOA$)$ $$267\mathrm{.}00/$Month $($include in monthly mortgage payment$)$

$8.$ Lender's Mortgage Fee $/$Point is $1\%$ of Mortgage Amountubmit by the due date.

$1$ Calculate the Down Payment Amount

$2$ Calculate the Amount to be Financed

$3$ Calculate the Amount of Taxes due at closing

$4$ Calculate the monthly mortgage payment w$/$o taxes and Insurance and other

$5$ Calculate the Lender$/$Mortgage fee due at closing

$6$ Calculate the Insurance due at closing

$7$ Calculate the monthly Insurance amount

$8$ Calculate the Total Closing Cost $($Taxes$,$ Lender Fee, Insurance$)$

$9$ Calculate the Total Amount neded to close

$10$ Calculate the monthly Taxes amount

$11$ Calculate the Total Monthly Mortgage Payment including Taxes, Insurance, PMI, & HOA

$12$ Calculate the amount that you will have left from the $$15,000$ you have in savings.