Carla purchased a home for $375,000. She will have a mortgage of $340,000 at 5.25% which has monthly principal and interest payments of $1,877.49. The annual property tax bill is $4,687.50. The homeowners insurance costs $1,462.50 per year. The annual private mortgage insurance premium $1,870. Including the required escrow payments, what will be the monthly payment on this loan?

Answer rating: 100% (QA)

To calculate the monthly payment on this loan we need to consider the principal and interest propert... View the full answer