The cost of a home you want to purchase is $275,000.00. To qualify for a...
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The cost of a home you want to purchase is $275,000.00. To qualify for a mortgage, your lender wants a 20% down payment. Your mortgage interest rate is 3% for 20 years and you have to pay 3 points. A. How much money do you need for the down payment ? B. How much will your mortgage be? C. How much will you have to pay for the points? will have to pay for the 3 points. D. What is the monthly payment? a month. E. By the end of the loan what will be the total of all your payments ? F. What is the total interest you will have paid on your mortgage by the end of the loan ?
A. How much money do you need for the down payment ?
B. How much will your mortgage be?
C. How much will you have to pay for the points? will have to pay for the 3 points.
D. What is the monthly payment? a month.
E. By the end of the loan what will be the total of all your payments ?
F. What is the total interest you will have paid on your mortgage by the end of the loan ?
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