Q5. You are going to buy a house for $250,000 with a 7% down payment....
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Q5. You are going to buy a house for $250,000 with a 7% down payment. You will select a 3.75%, 30 year, fixed rate loan. How much will your monthly payment equal?
Q6. Home prices in this area average 5% appreciation each year. How much do you estimate your house will be worth at the end of 18 years when you plan to sell it (and then go on your motorcycle adventure world tour)?
Q7. What will be the remaining loan balance on the mortgage at the end of 18 years?
Q8. What will be your equity proceeds at the end of 18 years, if you follow your plan? (Let's say, you do not re-fi the loan, or take a second mortgage, or HELOC, do not pay the mortgage faster, or secure you home to any business loans).
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