After an intensive search, Philip has narrowed his choices to four houses. Now he wants to buy the one that fits his budget. He has saved $40,000 for the down payment. Use the fixed-rate calculator to find the monthly payment for each house.
В І у хх, Font Sizes A - A E EA E 를 필
House Purchase Price Monthly Payment Affordability
A
$250,000
B
$200,000
С
$195,000
D
$180,000
You can see that Philip can afford only house D. Calculating a monthly budget to determine the affordability of your home works best with a
fixed-rate mortgage. You can use a monthly budget for ARMs, but you must recognize that after a certain period, the monthly installments
will vary as interests rates change.

ad = ae + ed = y + 7

similar triangles therefor

ac/ab = ad/ae

6/4 = (y + 7) / y

cross multiply

6y = 4(y + 7)

6y = 4y + 28

2y = 28

y = 14

step-by-step explanation:

ome people is not even worth it to even try it in the air.

step-by-step explanation:

explanation:

the loan estimate encourages consumers to shop. since it is the lenders who are required to issue a standardized loan estimate in a specific time frame, this way consumers are provided an opportunity to compare lenders and their products. otherwise consumer wouldn't know the benefits offered by other lenders.  

if a loan originator does not provide a loan estimate within 3 business days of receiving a completed loan application, that lender is in violation. lenders are required to issue a loan estimate within 3 days of applying for a loan or within 7 days prior to closing. having a loan estimate has following information.

not having loan estimate won't give you an idea of money to be borrowed.

you get to know your interest rates.

you also get to know if your interest rate can or may vary.

not having a good faith estimate can keep you unaware of aforementioned points.

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