The Darbys are buying a house for$492,000. They make adown payment $104,000 and obtain a 15-year mortgage at a 3.25% interest rate for the remaining cost of the house. They are also required to pay 2 points at closing. Determine the amount of the Darbys’mortgage and the cost of the 2 points.
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The Darbys are buying a house for$492,000. They make adown payment $104,000 and obtain a 15-year mortgage at a 3.25% interest rate for the remaining cost of the house. They are also required to pay 2 points at closing. Determine the amount of the Darbys’mortgage and the cost of the 2 points.
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- K Bill and Kim Johnson are purchasing a house for $309,000. Their bank requires them to pay a 10% down payment. The current mortgage rate is 8%, and they are required to pay one point at the time of closing. Determine the total amount Bill and Kim will pay for their house, including principal, interest, down payment, and points (do not include taxes and homeowners' insurance) for the following lengths of their mortgage. a) 10 years b) 20 years c) 30 years CATBill and Kim Johnson are purchasing a house for $252,000. Their Bank requires them to pay a 20% down payment. The current mortgage rate is 10%, and they are required to pay one point at the time of closing. Determine the total amount Bill and Kim will pay for their house, including principal, interest, down payment, and points (do not include taxes and homeowners' insurance) for the following lengths of their mortgage. a) 10 years b) 20 years c) 30 yearsThe Nicols are buying a house selling for $435,000. They pay a down payment of $35,000 from the sale of their current house. To obtain a 15-year mortgage at a 7% interest rate, the Nicols must pay 1.5 points at the time of closing. a) What is the amount of the mortgage? b) What is the cost of the 1.5 points? a) The amount of the mortgage is S b) The cost of the 1.5 points on the mortgage is $
- Felix is purchasing a brownstone townhouse for $2,900,000. To obtain the mortgage, Felix is required to make a 19% down payment. Felix obtains a 30-year mortgage with an interest rate of 5.5%. Click the icon to view the table of monthly payments. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. a) Determine the amount of the required down payment. S b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. (Round to the nearest cent.) (...) 4Felix is purchasing a brownstone townhouse for $2,300,000. To obtain the mortgage, Felix is required to make a 16% down payment. Felix obtains a 25-year mortgage with an interest rate of 6.5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest.Anna is buying a house selling for $285,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 25-year mortgage with an interest rate of 5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest.
- The Nicols are buying a house selling for $445,000. They pay a down payment of $45,000 from the sale of their current house. To obtain a 15-year mortgage at a 7% interest rate, the Nicols must pay 1.5 points at the time of closing. a)What is the amount of the mortgage? b) What is the cost of the 1.5 points?Anna is buying a house selling for $285,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 30-year mortgage with an interest rate of 5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest.The Olsens purchase a house by taking out a 25-year, $570,000 mortgage with an interest rate of 4.7%. Determine the Olsens’ monthly payment for principal and interest and how much of the first payment on the mortgage is applied to the principal.
- Laura and Martin obtain a 30-year, $170,000 conventional mortgage at 9.5% on a house selling for $190,000. Their monthly mortgage payment, including principal and interest, is $1429.70. a) Determine the total amount they will pay for their house. b) How much of the cost will be interest? c) How much of the first payment on the mortgage is applied to the principal?Anna is buying a house selling for $235,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 25-year mortgage with an interest rate of 5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest Number of Years Rate_% 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758 10.14267 8.99726 8.39196 8.046239.5…Noel purchases a house and gets a 15-year mortgage for $155,000 at 4.75% APR. In addition to the monthly payment, the lender requires him to pay into an escrow account for the homeowners insurance and property tax. His homeowners insurance is $1100 per year and the property tax is $1500 per year. Determine the monthly payment to the lender that includes the insurance and property tax. Round your answer to the nearest cent.