You want to buy a home. You can borrow 95% of the purchase price. Assuming you can make a down payment of $12,000, what price can you pay for the home?
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You want to buy a home. You can borrow 95% of the purchase price. Assuming you can make a down payment of $12,000, what price can you pay for the home?
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- You are buying a house and have saved a down payment of $15,000. You can afford a monthly payment of $1200, and the house can be financed at 2.5% for 30 years. Compute the maximum loan amount (MLA), rounding to the nearest cent: What is the maximum purchase price (MPP), rounded to the nearest cent?You have saved $14000 for a down payment on a house. Your bank requires a minimum down payment of 13%. What is the maximum price? You can offer for a home in order to have enough money for the down paymentYou have saved $22,000 for a down payment on a house. Your bank requires a minimum down payment of 19%. What is the maximum price you can offer for a home in order to have enough money for the down payment? Round to the nearest dollar.
- You'd like to purchase a house. You're monthly take home pay is $4560. You'd like to use one fourth of your take home pay for a house payment. You have $18500 for a down payment. You can get an APR of 4.35% compounded monthly. What is the total cost of a house you can afford with a 15 year mortgage?Your friend is currently paying $734 in rent monthly in Fort Wayne and would rather apply the payment toward purchasing a home. If she can get a 30 year mortgage at 4.67% APR using her current payment amount, how much could she borrow? What could you type into Excel to calculate this value?The buyers paid $6,125 for a 1 point origination fee and a 1.5 discount point fee, what is the amount of their loan? If the buyers are obtaining an 80 percent LTV, what is the purchase price of their new home?
- Dan is planning to buy a new home that costs $130000 Find the following if Dan make a 5% downpayment. How much will Dan's down payment be? (Round to the nearest cent) How much will Dan owe after he makes the down payment? (Round to the nearest cent)A buyer wants to purchase a home for $150,000 with a 30% down payment. The lender charges 1.75 points. How much money does the buyer need up front to make the purchase?You are thinking about buying a house.You find one you like that costs $200,000. You learn that your bank will give you a mortgage for $160,000 and that you would have to use all of your savings to make the down payment of $40,000. You calculate that the mortgage payments, property taxes, insurance, maintenance, and utilities would total $950 per month. Is $950 the cost of owning the house? What important factor(s) have you left out of your calculation of the cost of ownership, if any?
- You want to buy a home but not take out a mortgage. You want to buy it outright when you are able to do so. You estimate that the home you will want to buy will cost $500,000. You have $20,000 today to set aside for it. The bank will pay you 2.8% annual interest. How long will it be before you can buy your home?a purchaser makes a 20% down payment on a new home and obtains a loan for the balance. The lender charges two discount points which equals 1000. what was the sale price of the house? I would like a break down on how to obtain the answerYou have saved $22,000 for a down payment on a house. Your bank requires a minimum down payment of 11%. What is the maximum price you can offer for a home in order to have enough money for the down payment? (Round your answer to two decimal places.)