You want to buy a $230,000 home. you plan to pay 20% as a down payment, and take out a 30 year fixed loan for the rest. round all answers to the nearest cent as needed.

Amount of down payment = $46000

Mortgage needs = $184000

Solution:

From the given,

Cost of the house =

Percentage of down payment =

Number of years of fixed loan = 30

It can be concluded that the total down payment for the house and mortgage needs would be

$650 per month plus utilities

step-by-step explanation:

just based on the info you gave, it would seem more cost effective to rent at $650 per month plus utilities.   if utilities are, in fact, $150 per month, your monthly living costs would be $800 as opposed to the other option of $825.