A buyer is considering the purchase of an income property The proposed selling price is $...
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A buyer is considering the purchase of an income property The proposed selling price is $ 1,670,000. The buyer has obtained a mortgage from a bank that has informed him that the loan ratio for such a purchase is 75% with a monthly loan constant of 0 013996 and a 15-year term. What will the buyer's down payment and annual debt service be, respectively? A buyer is considering the purchase of an income property The proposed selling price is $ 1,670,000. The buyer has obtained a mortgage from a bank that has informed him that the loan ratio for such a purchase is 75% with a monthly loan constant of 0 013996 and a 15-year term. What will the buyer's down payment and annual debt service be, respectively?
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To calculate the buyers down payment and annual debt service well use the information provided 1 Sel... View the full answer
Related Book For
Business Law The Ethical Global and E-Commerce Environment
ISBN: 978-1259917110
17th edition
Authors: Arlen Langvardt, A. James Barnes, Jamie Darin Prenkert, Martin A. McCrory
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