Use the below information to answer the following 7 questions. Home purchase amount: $275,000 Downpayment: 4%...

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Use the below information to answer the following 7 questions. Home purchase amount: $275,000 Downpayment: 4% Term & Am: 30 years Interest Rate: 5.30% Holding period: 9 years Closing Costs: Discount point: .50% (paid to lender) Appraisal: $400 (paid to appraiser) Survey: $250 (paid to surveyor) Underwriting fee: $525 (paid to lender) Origination fee: .70% (paid to lender) PMI:.60% of original mortgage amount, paid per year on a monthly basis (paid to PMI insurer) Question 34 A What is the total closing costs paid to lender at closing? Format answer as "x" (do not enter $ sign, commas, or decimals) 2 F Question 35 How much total interest will be paid over the holding period? Format answer as "x" (do not enter $ sign, commas, or decimals) -116,925 Question 36 What it the OMB at the end of the holding period? Format answer as "x" (do not ender $ sign, commas, or decimals) Question 37 What is your monthly payment (principal and interest)? Format answer as "x" (do not enter $ sign, commas, or decimals) Question 38 Calculate the effective borrowing cost (EBC). Format answer as "x.xx" (no % sign, include 2 decimal places) Question 39 Calculate the lender's yield (LY) Format answer as "x.xx" (no % si, include 2 decimal places) Question 40 How much principal will be paid during the holding period? Format answer as "x" (do not enter $ sign, commas, or decimals) Use the below information to answer the following 7 questions. Home purchase amount: $275,000 Downpayment: 4% Term & Am: 30 years Interest Rate: 5.30% Holding period: 9 years Closing Costs: Discount point: .50% (paid to lender) Appraisal: $400 (paid to appraiser) Survey: $250 (paid to surveyor) Underwriting fee: $525 (paid to lender) Origination fee: .70% (paid to lender) PMI:.60% of original mortgage amount, paid per year on a monthly basis (paid to PMI insurer) Question 34 A What is the total closing costs paid to lender at closing? Format answer as "x" (do not enter $ sign, commas, or decimals) 2 F Question 35 How much total interest will be paid over the holding period? Format answer as "x" (do not enter $ sign, commas, or decimals) -116,925 Question 36 What it the OMB at the end of the holding period? Format answer as "x" (do not ender $ sign, commas, or decimals) Question 37 What is your monthly payment (principal and interest)? Format answer as "x" (do not enter $ sign, commas, or decimals) Question 38 Calculate the effective borrowing cost (EBC). Format answer as "x.xx" (no % sign, include 2 decimal places) Question 39 Calculate the lender's yield (LY) Format answer as "x.xx" (no % si, include 2 decimal places) Question 40 How much principal will be paid during the holding period? Format answer as "x" (do not enter $ sign, commas, or decimals)

Answer rating: 100% (QA)

1 Total closing costs paid to the lender at closing Discount point 275000 050 1375 Underwriting fee 525 Origination fee 275000 070 1925 Total closing ... View the full answer