Using the information provided, answer the following cash-out question: Value = $475,000 Current balance = $320,000 Current payment = $2,455 Cash out = $35,000 Taxes = $265 Homeowners insurance = $80 Closing Costs = 2.5% Prepaids = 1% What is their new loan amount and proposed monthly PITI based on a 30-year conventional fixed-rate @6.25%? Choices: $371,080 / $2,629.62 $371,050 / $2,720.87 $370,200 / $2,715.43 $370,205 / $2,709.42 Using the information provided, answer the following cash-out question: Value = $475,000 Current balance = $320,000 Current payment = $2,455 Cash out = $35,000 Taxes = $265 Homeowners insurance = $80 Closing Costs = 2.5% Prepaids = 1% What is their new loan amount and proposed monthly PITI based on a 30-year conventional fixed-rate @6.25%? Choices: $371,080 / $2,629.62 $371,050 / $2,720.87 $370,200 / $2,715.43 $370,205 / $2,709.42