Question
In: Finance
How much would you have to put down on a house with a selling price of...
How much would you have to put down on a house with a selling price of $90,000 and an appraised value of $95,000 when the lender required an 80% loan-to-value ratio?
Solutions
Expert Solution
Loan-to-Value Ratio = Mortgage Amount / Appraised Property Value
0.80 = Mortgage Amount / $95,000
Mortgage Amount = $95,000 * 0.80 = $76,000
Down payment = Selling Price - Mortgage Amount = $90,000 - $76,000 = $14,000
jeff jeffy answered 2 years agoRelated Solutions
How much would you have to put down on a house costing $160,000 if the house...
How much would you have to put down on a house costing $160,000
if the house had an appraised value of $169,000 and the lender
required an 80% loan-to-value ratio?
FUTURE VALUE - (a) How much money would you have in a year if you put...
FUTURE VALUE -
(a) How much money would you have in a year if you put $1,000 in
the bank at an annual interest rate of 3 percent? How much would
you have if you left all of that money in the bank for another year
and annual interest rates increased to 4 percent in the second
year? (PLEASE INCLUDE FORMULAS UTILIZED TO SOLVE PROBLEM)
(b) How much money would you have in a year if you put $2,500 in...
You bought a house for $150,000 and put down 10% and got a mortgage at an...
You bought a house for $150,000 and put down 10% and got a
mortgage at an interest rate of 4.35 % per year. You would pay it
back by paying an equal amount at the end of each month for 15
years? (Show all work) How much is your loan amount? How much is
your monthly loan payment? How much is your loan balance after 2
years? How much is your total interest payment by the end of year
3?
You put 20% down on a home with a purchase price of $250,000. The down payment...
You put 20% down on a home with a purchase price of $250,000.
The down payment is thus $50,000, leaving a balance owed of
$200,000. A bank will loan you this remaining balance at 3.91% APR.
You will make monthly end-of-the-period payments with a 30-year
payment schedule. What is the monthly annuity payment under this
schedule?
You are planning to buy a house in New Jersey. You put a 20% down payment,...
You are planning to buy a house in New Jersey. You put a 20%
down payment, and 15-year mortgage rates are at 4.2% -Price of the
house is $400,000.
a. Calculate the monthly payments.
b- Calculate the 1st month interest payment.
c-Calculate the 1st month principal payments
You are planning to buy a house in New Jersey. You put a 20% down payment,...
You are planning to buy a house in New Jersey. You put a 20%
down payment, and 15-year mortgage rates are at 4.2% -Price of the
house is $400,000.
A. Calculate the 1st month interest payments
B.Calculate the 1st month principal payments
C. Calculate the monthly payments.
Place answer in the box below and use 2 decimals and no $
sign
You wish to buy a house today for $350,000. You plan to put 10% down and...
You wish to buy a house today for $350,000. You plan to put 10%
down and finance the rest at 5.20%
p.a. for thirty years. You will make
equal monthly payments of $_______.
You wish to buy a house today for $350,000. You plan to put 10% down and...
You wish to buy a house today for $350,000. You plan to put 10%
down and finance the rest at 5.20%
p.a. for thirty years. You will make
equal monthly payments of $_______.
1. You just bought a house for $300,000. You put $100,000 as a down payment and...
1. You just bought a house for $300,000. You put
$100,000 as a down payment and borrow the remaining $200,000 from a
bank. You take out a 30-year mortgage that charges you 6 percent
APR but with monthly compounding.
a. How much is your monthly mortgage payment? Show your
work.
b. How much of your second mortgage payment goes towards
interest? Show your work.
You are planning to purchase a house that costs $480,000. You plan to put 20% down...
You are planning to purchase a house that costs $480,000. You
plan to put 20% down and borrow the remainder. Based on your credit
score, you believe that you will pay 3.99% on a 30-year
mortgage.
Use function “PMT” to calculate your mortgage payment.
Use function “PV” to calculate the loan amount given a payment
of $1700 per month. What is the most that you can borrow?
Use function “RATE” to calculate the interest rate given a
payment of $1700...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- (2) Cite an example on how organizations like Google, Facebook, Youtube etc collect data for image...
- The legal landscape is perpetually changing. Psychologists must remain abreast of these changes to avoid potentially...
- We are evaluating a project that costs $1.68 million, has a six-year life, and has no...
- In C++ Having call-by-reference allows one to use storeback parameters, i.e., parameters whose values are transmitted...
- You must evaluate a proposal to buy a new milling machine. The base price is $175,000,...
- “Triangle Guessing” game in Python The program accepts the lengths of three (3) sides of a...
- THIS PROGRAM HAS TO BE WRITTEN IN C Single function to perform the parity computation on...
ADVERTISEMENT