40 POINTS
On a $200,000.00 purchase price with a 20% downpayment answer the following:
...
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40 POINTS
On a $200,000.00 purchase price with a 20% downpayment answer the following:
The mortgage loan is for $160,000
What is the mortgage payment on a 15-year loan at 2.5%?
What is the mortgage payment on 30-year loan at 3.25%?
What is an adjustable-rate mortgage, (ARM)?
If interest rates look to be rising is an ARM a good idea? Why or why not?
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Answers: 3
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