4. A mortgage loan of $200,000 has just been made on a property valued at $250,000. The interest rate is 5.5% with 2 points with a 10 year balloon. Monthly amortization payments are based on a 30 year maturity. The mortgage also carries a 2% prepayment penalty.

a. What is the indicated loan-to-value ratio?

b. What is the monthly mortgage payment?

c. How much interest is paid in the fourth year?

d. What is the dollar amount of the balloon payment?

Answer rating: 100% (QA)

Answera Indicated loantovalue ratio Loan Property Valued 200000 250000 080 or 80 Answerb Monthly Mortgage Payment PMT 55 12 30 12 200000 PMT 000458333... View the full answer