What is the total monthly payment with monthly private mortgage insurance (PMI) and escrows for the following loan: • Sale price: $150,000 • Loan to value ratio: 90% Interest rate and term: 4% for 30 years • Annual premium rate for PMI (paid monthly): 0.78% Annual property tax liability and home owner's insurance premium (paid monthly): $2,250 (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)

What is the total monthly payment with monthly private mortgage insurance (PMI) and escrows for the following loan: • Sale price: $150,000 • Loan to value ratio: 90% Interest rate and term: 4% for 30 years • Annual premium rate for PMI (paid monthly): 0.78% Annual property tax liability and home owner's insurance premium (paid monthly): $2,250 (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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