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- Calculating required down payment on home purchase. How much would you have to put down on a house with an appraised value of 105,000 when the lender required an 80 percent loan-to-value ratio?Calculate the DTI ratio (in percent) for a borrower who has a gross monthly income of $4,875 and has a minimum credit car bill of $125, a car lease payment of $276.78 and a student loan payment of $216, and who is applying for a loan with a monthly payment of $2,021.79. (Round your answer to the nearest tenth of a percent.)Suppose you obtain a 25- year mortgage loan of 191,000$ at an annual interest rate of 7.9%. The annual property tax bill is $974 and the annual fire insurance premium is 488$. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)
- Calculate the DTI ratio (as a percent) for a borrower who has a gross monthly income of $5,330 and has a minimum credit card bill of $250.00, a car lease payment of $344.97, and a student loan payment of $187, and who is applying for a loan for which the monthly payment will be $2,584.64?Suppose you obtain a 30-year mortgage loan of $196,000 at an annual interest rate of 7.9%. The annual property tax bill is $977 and the annual fire insurance premium is $482. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)The annual income of a borrower is $74,000.00. What is the maximum dollar amount he can borrow to purchase a house if the bank requires that the borrower’s debt to income ratio not to exceed 36% of his gross monthly income. The borrower is making a monthly payment of $250.00 for an auto loan and the current mortgage rate is 6.97%. The borrower can afford a total of 20% for the down payment and a closing cost of $6,765.00.
- Suppose you obtain a 30 year mortgage loan of 197,000$ at an annual interest rate of 8.1%. The annual property tax bill is $967 and the annual fire insurance premium is 495$. Find the total monthly payment for the mortgage, property tax, and fire insurance.Suppose you obtain a 30 year mortgage loan of $193,000 at an annual interest rate of 7.8%. The annual property tax bill is $978 and tha annual fire insurance premium is $491. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent)Suppose you take a 15-year mortgage for a house that costs $253,368. Assume the following: The annual interest rate on the mortgage is 4.4%. The bank requires a minimum down payment of 8% of the cost of the house. The annual property tax is 1.9% of the cost of the house. The annual homeowner's insurance is $844. The monthly PMI is $55. If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 28% rule? Round your answer to the nearest dollar.
- A buyer is applying for a mortgage loan of $70,000, with an annual interest rate of 12% and blended monthly payments of $722.32 including both principal and interest. The taxes on the property being mortgaged are $1900 per annum. The buyer has a gross income of $41,400 per annum. The buyer's debt service ratio is: a.20.94% b.15.10% c.25.53% d.25.78%Assuming a 28% lender's affordability ratio, estimated monthly property taxes and insurance of P250, a 25% down payment (of the purchase price), and an annual gross income of P84,800, calculate the maximum purchase price based on monthly income. The monthly payment will occur at the end of the month and you plan to pay off the mortgage over a 30-year period at a 6.25% annual interest rate. a.P374,343b.P280,757c.P282,219d.P321,360e.None of the aboveBased on that size of loan and the $950 monthly payment, how much would they pay in interest on that 30 year home loan? Size of loan 16378