Christen and Bob are buying a home for $800000. They make a down payment of 30% and finance the rest through a mortgage loan at 8% p.a. compounded quarterly. If they can afford to pay $4000 biweekly on their mortgage loan, how many full payments will be required and what will be the smaller concluding payment two weeks after the last full payment? 

Answer rating: 100% (QA)

Mortgage Analysis for Christen and Bob 1 Down Payment Down payment percentage 30 Home price 800000 Down payment amount Down payment percentage Home pr... View the full answer