You plan to buy your first home at $400,000 with a 10% down payment and finance the rest at a 6% annual fixed rate, 15-year mortgage paid biweekly. So, there are 26 payments each year. After buying this house you must pay $13,000 in real estate taxes annually and $900 in insurance annually. 

 

Q1. The biweekly mortgage (Principal and Interest) for every two weeks is  

Q2. The total biweekly cost (Principal, Interest, Real Estate Tax, and Insurance) of biweekly is 

Q3. Suppose your total biweekly pay is $2,000 for every two weeks and suppose they are all tax deductible at 30%. Your total annual tax benefit is 

 

 

Answer rating: 100% (QA)

To calculate the answers to the questions well follow the given information step by step Q1 The biweekly mortgage Principal and Interest for every two ... View the full answer