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You want to buy a $296,000 home. You plan to pay 10% as a down payment, and take out a 30-year loan at 3.95% for
You want to buy a $296,000 home. You plan to pay 10% as a down payment, and take out a 30-year loan at 3.95% for the rest. The bank requires 2 points at closing. (a) How much is the loan amount going to be? $266400-Correct (b) How much are the closing costs? $5328-Correct (c) What will your monthly payments be? $1264.04-Correct (d) How much will you pay in interest over the life of the loan? ?????
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