Question: Suppose you take out a 3 0 - year mortgage for a house that costs $ 3 9 0 , 2 8 4 . Assume

Suppose you take out a 30-year mortgage for a house that costs $390,284. Assume the following:
The annual interest rate on the mortgage is 4.1%.
The bank requires a minimum down payment of 13% at the time of the loan.
The annual property tax is 2.3% of the cost of the house.
The annual homeowner's insurance is 1.2% of the cost of the house.
There is no PMI
If you make the minimum down payment, what will your monthly PITI be?

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