Question: What is the difference between a simple interest note and a simple discount note? With respect to simple discount notes, what are the PROCEEDS? What

  1. What is the difference between a simple interest note and a simple discount note?
  2. With respect to simple discount notes, what are the PROCEEDS?
  3. What is a bank discount?
  4. A local developer is selling homes for $125,000 with a required down payment of 6%. Find the amount of the required down payment and the mortgage.
  5. A couple obtained a loan for $130,000 to purchase their home. How much would the loan origination fee be if the couple had to pay 3 points on the loan.
  6. What are mortgage points?
  7. What does the "points" term actually refer to?
  8. What are they also known as?
  9. Who are they paid to?
  10. How do points affect your loan?
  11. New houses in a neighborhood are selling for $175,000. A down payment of $18,000 is required and a 25-year mortgage at an annual interest rate of 8% is available. Find the monthly mortgage payment.
  12. Does the size of a down payment affect a mortgage interest rate?
  13. What is PMI?
  14. What is the current mortgage interest rate?
  15. Use the calculator here based on the following:
  16. Purchase price of home $250,000
  17. Down amount= $50,000
  18. Enter your zip code
  19. Enter your credit score range. Estimate it!
  20. CALCULATE: What is the recommended option?
  21. REDO using a reduced down amount of $25,000.
  22. CALCULATE:What is the recommended option?
  23. What does the payment include?
  24. The monthly mortgage payment on a house is $824.36, and the homeowner must pay an annual property tax of $930. Find the total monthly payment for the mortgage and the property tax.
  25. What other fees might be include in your mortgage payment?
  26. What is the RULE of 78 all about?

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