How much would you have to put down on a house costing $130,000 if the house had an appraised value of $135,000 and the lender required an 80% loan-to-value ratio? Ignore any closing costs. $
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How much would you have to put down on a house costing $130,000 if the house had an appraised value of $135,000 and the lender required an 80% loan-to-value ratio? Ignore any closing costs.
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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 how much money a prospective homeowner would need for closing costs on a house that costs $190,000. Calculate based on a 15 percent down payment, 1.3 discount points on the loan, a 1.2 point origination fee, and $820 in other fees. The closing costs would be $. (Round to the nearest dollar.)Solve the problem with complete solution. 9. You plan to buy a house and lot through home loan from a bank. The selling price is 1,800,000 and the bank requires a down payment of 20% of the selling price. How much is the down payment?
- Suppose you want to buy a new house. You currently have $15 000 and you figure you need to have a 10% down payment plus an additional 5% of the loan amount in closing costs. If the type of house you want costs about $150 000 and you can earn 7,5% per year, how long will it be before you have enough money for the down payment and closing costs?You need a loan of $155,000 to buy a home. Choice 1: 30-year fixed rate at 7% with closing costs of $2600 and no points. Choice 2: 30-year fixed rate at 6.5% with closing costs of $2600 and 2 points. What is the total closing cost for choice 1? What is the total closing cost for choice 2? Why might choice 1 be the better choice? • A. The closing costs are lower. • B. The closing costs are higher. • C. The monthlv payment is lower. • D. The monthly payment is higher. Why might choice 2 be the better choice? • A. The closing costs are lower. • B. The closing costs are higher. C. The monthly payment is lower. © D. The monthly payment is higher.did you accidentally use the original price of the house, 141000, in your excel formula instead of 94% of that? 1. consider having a personal loan that spans 5 years. The loan was only taken out for $6000, but the interest rate was a higher fixed percentage of 5.99%. How much interest will you have paid after it is paid off? 2. What is the total interest you will have paid for the scenario below? The home you purchased was sold for $141,000 with a fixed APR of 1.035% across 40 years. The down payment required was 6.0%.
- You want to buy a $210,000 home. You plan to pay $10500 as a down payment, and take out a 30 year loan for the rest.a) How much is the loan amount going to be?Suppose you want to buy a car. You have surveyed the dealers' newspaper advertisements, and the one shown has caught your attention. You can afford to make a down payment of $2,678.95, so the net amount to be financed is $20,000.(a) What would the monthly payment be?(b) After the 25th payment, you want to pay off the remaining loan in a lumpsum amount. What is this lump sum?You are buying a house that is priced at $200,000. You need to make a 10% down payment, and closing costs will be 5%. Which of the following is/are true? I. The amount of the loan will be $200,000 II. Closing costs will be $10,000 III. Closing costs will be $9,000 IV. You will need to bring $29,000 total to the bank in order to get the loan.
- A mini-mart needs a new freezer and the initial Investment will cost $300,000. Incremental revenues, including cost savings, are $200,000, and incremental expenses, including depreciation, are $125,000. There is no salvage value. What is the accounting rate of return (ARR)?1. You are purchasing a home for $300,000 and have a 20% down payment. You are deciding between a conventional loan for 5% where you would need to pay 2 points, or an FHA loan for 6% where you only pay 1 point. a. How much will points in each example cost in dollars? b. What are some factors determining which loan you choose?Suppose you found a house which comes with a price tag of $200,000. Your bank is willing to finance your upcoming purchase of your house . The bank has a two lines of loans : Loan to Value Ratio: 90, 8%APR, 30 year term; 80%loan to value ratio, 7%APR, 25 year Term. If you found a house with an asking price of $200,000 and you have $ 40,000 investment earning 16% annual return , How much is the additional Loan - to-Value coverage costing you , meaning getting the 90 % LTV vs. 80 % LTV ?