Mathematics, 06.08.2019 19:20 chinnellepug2149
The price of a home is $224,000. the bank requires a 20% down payment and three points at the time of closing.
the cost of the home is financed with a 30-year fixed-rate mortage at 7%. complete parts (a) through (e) below.
a: find the required down payment.
b: find the amount of the morgage.
c: how much must be paid for the three points at closing? (round to the nearest dollar as needed)
d: find the monthly payments (excluding escrowed takes and insurance)
Answers: 2
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