Purchase price: $320,000 LTV: 97% Term & Am: 25 years Interest Rate: 4.0% Holding period: 5 years. Closing Costs PMI: .60% of original mortgage amount, paid per year on a monthly basis to the insurer Origination fee: 1% (paid to lender) Discount point: 1.00% ( paid to lender) Underwriting fee: $750 (paid to lender) Survey: $400 (paid to surveyor) Appraisal: $500 (paid to appraiser)

Purchase price: $320,000 LTV: 97% Term & Am: 25 years Interest Rate: 4.0% Holding period: 5 years. Closing Costs PMI: .60% of original mortgage amount, paid per year on a monthly basis to the insurer Origination fee: 1% (paid to lender) Discount point: 1.00% ( paid to lender) Underwriting fee: $750 (paid to lender) Survey: $400 (paid to surveyor) Appraisal: $500 (paid to appraiser)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 20P

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Purchase price: $320,000 LTV: 97% Term & Am: 25 years Interest Rate: 4.0% Holding period: 5 years Closing Costs PMI: .60% of original mortgage amount, paid per year on a monthly basis to the insurer Origination fee: 1% (paid to lender) Discount poiht: 1.00% (paid to lender) Underwriting fee: $750 (paid to lender) Survey: $400 (paid to surveyor) Appraisal: $500 (paid to appraiser) What it the OMB at the end of the holding period? $ 249,428 $ 292,567 O $ 250,752 $ 270,373 $ 258,868 O None of these are correct
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