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Justins new FHA mortgage is for $131,500. How much will his overall mortgage increase with an upfront fee of 1.5%?

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Justin’s new FHA mortgage is for $131,500. How much will his overall mortgage increase with an upfront fee of 1.5%? How much will his total mortgage be with the upfront mortgage insurance fee added? Will Justin always pay mortgage insurance on this loan?

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Justins mortgage will increase by the amount of the loan mul…View the full answer


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Related Book For  answer-question
Personal Finance

Personal Finance

ISBN: 9780134989969

7th Edition

Authors: Jeff Madura

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Question Details
Chapter # 10
Section: Financial Planning Problems
Problem: 13
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Question Posted: January 02, 2023 02:47:26
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