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- Suppose Bank A offers a $201,000, 20-year, 2.1% fixed rate mortgage with closing costs of $1900 plus 2 points. What are the closing costs associated with this mortgage? Answer to the nearest dollar.Suppose Bank A offers a 201,000, 20 year , 2.1 % fixed rate mortgage with closing costs of 1900 plus 2 points. what is the closing cost associated with this mortgage1. You have just obtained a commercial mortgage for $6.25M with a 5-year term, 25-year amortization period and 6.50% mortgage interest rate. (a) Construct an amortization table for the term of the loan assuming annual payments. What is the annual payment? What is the balance at maturity? (b) What is the e¤ective cost of borrowing if the borrower pays an origination fee of $30,000? (c) The borrower can repay the balance of the loan at any time prior to its maturity, but must pay a penalty of 5% of the outstanding balance. What is the cost of borrowing if the borrower pays an origination fee of $30,000 and pays off the remaining balance of the loan after making payments for 4 years?
- Consider a Sh. 124,000, 7.00%, 30-year, constant payment mortgage (CPM) with monthly payments. Required a) What is the required monthly payment on this mortgage?Give typing answer with explanation and conclusion If the annual payment mortgage constant for an amortizing loan is 10.6%, and the loan amount is $25,000,000, what is the annual payment?V4. A $200,000 30 year mortgage with a contract rate of 8.94%, $3000 closing costs (lawyer, appraisal, and transfer tax) and $1,000 in discount points (i.e mortgage setup fee). The monthly mortgage payment is determined to be $1600. what will be the effective borrowing rate if the borrower decides to pay off the loan at the end of year 8? Assume that the mortgage is based on monthly compounding.
- What is the DCR if the bank underwrites a mortgage at 70% LTV Loan amount noi in year 1 loanterm interest rate loan type What if LTV has to be 80% and DCR equal to 1.7, what is the most you could borrow? 20000 30 years 30 years 12% 300000 700000 400000 60000 50000 30 years 6% 8% amortizing Interest onl amortizingAssume the monthly payment of a loan amount of $400,000 is $1450. How long will it take to retire the loan if the annual interest rate is 4% ? Use the equation, Monthly payment= Where : P = principal (the amount of your mortgage r = the annual interest rate y = length of the mortgage P∗r12 1−(1+r12 )−12 ySuppose you have taken out a $125,090 fully amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 6%. After your first mortgage payment, how much of the original loan balance is remaining? Multiple Choice $1,054.82 $120,60378 $1245701 $124.875.56
- A borrower wants to know the monthly mortgage payment (P&I) for a minimum down FHA loan on a $206273 home purchase with 6.0% APR and a 30 year term. What is the principle and interest payment? round answer to nearest dollar.P Use to determine the regular payment amount, rounded to the nearest dollar. Consider the following pair of mortgage loan options for a nt $150,000 mortgage. Which mortgage loan has the larger total cost (closing costs + the amount paid for points + total cost of interest)? By how much? Mortgage A: 30-year fixed at 9.25% with closing costs of $2900 and 1 point. Mortgage B: 30-year fixed at 8.25% with closing costs of $2900 and 5 points. Choose the correct answer below, and fill in the answer box to complete your choice. (Do not round until the final answer. Then round to the nearest dollar as needed.) O A. Mortgage A has a larger total cost than mortgage B by $ O B. Mortgage B has a larger total cost than mortgage A by $ Help Me Solve This View an Example Get More Help - Clear All Check Answer MacBook Air >> 吕口 F3 esc F10 F1 F12 F1 F2 F5 F6 F7 F8 2# $ A & 2 3 4 6 7 8A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0% with zero points or at a rate of 5.5% with 2.25 points. If you will keep the mortgage for 30 years, what is the net present value of paying the points (to the nearest dollar)? A. $7,564 B. $7,222 C. $8,360 D. $9,475