Consider a 25-year loan with an annual interest rate of 7 percent and monthly payments of $1,201.53.
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Consider a 25-year loan with an annual interest rate of 7 percent and monthly payments of $1,201.53. The discount points charged by the lender at origination are 3 percent and the cost of borrower title insurance and mortgage insurance are, respectively, 0.5 percent and 2.0 percent of the loan amount. Additional fees paid to other third parties (i.e., not the lender) will equal $4,000. What is the loan amount? What is the lender’s yield/IRR? What is the effective borrowing cost (EBC)?
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The loan amount 170000 The lenders yieldIRR ...View the full answer
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Related Book For 
Real Estate Principles A Value Approach
ISBN: 978-0077836368
5th edition
Authors: David C Ling, Wayne Archer
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