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You want to buy a house priced at $333300, and qualify for a 25 year mortgage at 4.5% interest, with a 25% down payment
You want to buy a house priced at $333300, and qualify for a 25 year mortgage at 4.5% interest, with a 25% down payment required. Closing costs are a $425 fee plus 2 point(s). a) What is the down payment amount? Down Payment $ b) How much is the mortgage (loan)? Mortgage $ c) How much will the closing costs be (including fees, points, and down payment)? Total Closing Costs $ d) What is the monthly payment of the mortgage? Monthly Payment $ e) What is the total of the loan payments over the 25 year mortgage? Total of Loan Payments $ f) How much total interest is paid over the 25 year mortgage? Total Interest Paid $ g) If the property tax is estimated to be $2882 per year, and the annual insurance premium is estimated to be $525, what is the total amount you will pay each month for the mortgage? Total Monthly Payment $
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