Question

Peifan is taking an Interest Only loan to purchase a $669,425 property with 0.9 LTV. The loan is issued for 15 years with monthly payments and has a fixed interest rate at 5%. Under this mortgage contract, what will be Peifan's payment in the first month of the loan? State your answer as a number rounded to the nearest cent (e.g. if your answer is $1,000.568, write 1000.57).

Answer #1

- Property Value = $669,425

Loan to Value(LTV) ratio = 0.9

Loan amount = LTV*Property Value = $669,425*0.9

Loan amount =$602,482.50

- Peifan is taking an Interest Only loan, Peifan will only pay Interest on monthly payment iwth principal remain unchanged.

Monthly Payment = Loan amount*Interest Rate*1/12

Monthly Payment = $602,482.50*5%*1/12

**Monthly Payment = $2510.34**

So, Peifan's payment in the first month of the loan is $2510.34

*If you need any clarification, you can ask in
comments. *

**If you like my answer, then please up-vote as it
will be
motivating *** *

Peifan is taking an Interest Only loan to purchase a $460,639
property with 0.9 LTV. The loan is issued for 15 years with monthly
payments and has a fixed interest rate at 5%. Under this mortgage
contract, what will be Peifan's payment in the first month of the
loan? State your answer as a number rounded to the nearest cent
(e.g. if your answer is $1,000.568, write 1000.57).

Peifan is taking an Interest Only loan to purchase a $514,776
property with 0.9 LTV. The loan is issued for 15 years with monthly
payments and has a fixed interest rate at 3%. Under this mortgage
contract, what will be Peifan's payment in the first month of the
loan? State your answer as a number rounded to the nearest cent
(e.g. if your answer is $1,000.568, write 1000.57).

Aziza is purchasing a home worth $393,124 and is financing the
purchase with a 30-year, fixed rate, fully amortizing loan at 80%
LTV with 2% interest. What will be Aziza's monthly payments? Round
your answer to the nearest cent (e.g. if your answer is $1,000.567,
enter 1000.57).

Aziza is purchasing a home worth $334,901 and is financing the
purchase with a 30-year, fixed rate, fully amortizing loan at 80%
LTV with 3.4% interest. What will be Aziza's monthly payments?
Round your answer to the nearest cent (e.g. if your answer is
$1,000.567, enter 1000.57).

Aziza is purchasing a home worth $352,585 and is financing the
purchase with a 30-year, fixed rate, fully amortizing loan at 80%
LTV with 5.3% interest. What will be Aziza's monthly payments?
Round your answer to the nearest cent (e.g. if your answer is
$1,000.567, enter 1000.57).

Aziza is purchasing a home worth $486,839 and is financing the
purchase with a 30-year, fixed rate, fully amortizing loan at 80%
LTV with 2.9% interest. What will be Aziza's monthly payments?
Round your answer to the nearest cent (e.g. if your answer is
$1,000.567, enter 1000.57).

Aziza is purchasing a home worth $546,447 and is financing the
purchase with a 30-year, fixed rate, fully amortizing loan at 80%
LTV with 2.1% interest. What will be Aziza's monthly payments?
Round your answer to the nearest cent (e.g. if your answer is
$1,000.567, enter 1000.57).

Aziza is purchasing a home worth $334,901 and is financing the
purchase with a 30-year, fixed rate, fully amortizing loan at 80%
LTV with 3.4% interest. What will be Aziza's monthly payments?
Round your answer to the nearest cent (e.g. if your answer is
$1,000.567, enter 1000.57).

Consider a CMBS backed by a 80% LTV loan of a $50,000,000 office
building. The loan is interest only with an 8% mortgage rate issued
for 3 years with monthly payments. The CMBS is issued with 37.5%
subordination with a coupon rate on the senior tranche equal to 5%
and coupon rate on the junior tranche equal to 7%. An interest only
residual carrying no principal will be issued as well (Same as
Question 9). Suppose that in month 30...

Catherine received a 30 year loan of $240,000 to purchase a
house. The interest rate on the loan was 5.90% compounded
monthly.
a. What is the size of the monthly loan
payment?
$
Round to the nearest cent
b. What is the principal balance of the loan at
the end of 3 years?$
Round to the nearest cent
c. By how much will the amortization period
shorten if Catherine made an extra payment of $54,000 at the end of
the...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 20 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago

asked 3 hours ago

asked 3 hours ago

asked 3 hours ago