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%

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 $371050/52,720 87 $370.200 / $2.715.43 $370,205 / 82.700 42

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