The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is $210,000 and the average balance in the first year is $208,711. Given the following information on a 30-year fixed-payment, fully-amortizing loan, determine the total monthly loan payment: Interest rate: 6%; Annual premium for mortgage insurance (paid monthly): 0.85%. (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is...
[QUESTION] 39. Suppose you are interested in obtaining a mortgage loan for $250,000 in order to purchase your principal residence. Your lender has suggested that you might be interested in taking an FHA loan. In order to do so, you must pay an additional up-front mortgage insurance premium (UFMIP) of 1.0% of the mortgage balance. If the interest rate on the fully-amortizing mortgage loan is 5% and the term is 30 years, what is your monthly mortgage payment assuming the...
Under today’s rules an FHA borrower must pay an up-front insurance premium and an annual premium. true false
Find the total monthly payment, including taxes and insurance, for the given mortgage loan using the table. Ciculator answers might be slightly different. (Round your answers to the Time Annual Annual Amount Rate (Years) Taxes Insurance $80,000 64 25 $1000 3420 STEP 1: Find the monthly taxes and insurance taxes insurance STEP 21 Use the table to find the monthly payment. STEP 31 Add the monthly payment, taxes, and insurance
Suppose you obtain a 25-year mortgage loan of $198,000 at an annual interest rate of 8.6%. The annual property tax bill is $965 and the annual fire insurance premium is $489. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)
Find the total monthly payment, including taxes and insurance. Mortgage $89,050 Interest Rate 6.5% Term of Loan 25 years Annual Taxes $936 Annual Insurance 5380 The total monthly payment is $ (Round to the nearest cent as needed.)
Find the total monthly payment, including taxes and insurance. Mortgage $69.000 Interest Rate 5% Term of Loan 25 years Annual Taxes $545 Annual Insurance $239 The total monthly payment is $ (Round to the nearest cent as needed.)
What is the payment amount in month 27 of a constant amortization mortgage loan for $260,000 with a 30-year term and an annual interest rate of 8%? Enter your answer rounded to the nearest penny with no punctuation other than a decimal point.
Suppose you obtain a 25-year mortgage loan of $199,000 at an annual interest rate of 8.2%. The annual property tax bill is $974 and the annual fire insurance premium is $487. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)
Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): Correct Answers 1. What is your monthly payment? 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 3. How many months will it take to pay off the loan if you pay an extra $465.71 per month? Note: Enter the...
Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6. Exhibit 7-7. (Round your intermediate and final answers to the nearest whole dollar.) Monthly gross income Other debt (monthly payment) 15-year loan at Down payment to be made (percent of purchase price) Monthly estimate for property taxes and insurance $3,498 25e 6 percent 15 percent 180 Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase Exhibit...