Suppose you want to buy a condo at a purchase price of $650,000 Your down payment is
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Question:
- Suppose you want to buy a condo at a purchase price of $650,000 Your down payment is $102,500
Calculate your down payment percentage. Do you need to acquire mortgage insurance?
- Calculate your mortgage amount.
- What is the loan-to-value percentage?
- What is the mortgage premium percentage?
- Calculate your mortgage loan insurance premium.
- What is the total mortgage amount? (including any premiums)
- What down payment amount would you need to avoid purchasing house insurance?
Suppose you want to buy a house at a purchase price of $999,000 Your down payment is $155,000
- Calculate your down payment percentage. Do you need to acquire mortgage insurance?
- Calculate your mortgage amount.
- What is the loan-to-value percentage?
- What is the mortgage premium percentage?
- Calculate your mortgage loan insurance premium.
- What is the total mortgage amount? (including any premiums)
- What down payment amount would you need to avoid purchasing house insurance?
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