Question

You want to buy a house that costs $447,735, but all you can afford to pay on a bi-weekly mortgage for the house is $4,088.42 every two weeks over 5 years. The bank quoted you are mortgage rate of 8.1%. How much can you actually afford to borrow?

Answer #1

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you want to buy a house that costs $380612.98, but all
you can afford to pay on a weekly mortgage for the house is
$4596.87 per week for 29 years. thanks bank quoted you a mortgage
rate of 5.05% to buy this house without putting any money down or
having a balance owing at the end of the mortgage, you would have
get the bank to lend you money at a lowest rate. what rate would
they have to quote...

1.)
You
want to buy a house in Hermosa Beach CA, but you can only afford to
make monthly payments of $7,100. The interest rate on mortgages
right now is 4.25% p.a. with monthly compounding (APR), fixed for
30 years, with monthly payments. You have $155,000 saved to use as
a downpayment. What is the most that you can afford to pay for a
house (ignoring closing costs, property taxes, etc..)?
Answer: $1,598,265.76
2.)
Under
the same assumptions described in...

You would like to buy a house that costs $ 350,000. You have
$50,000 in cash that you can put down on the house, but you need
to borrow the rest of the purchase price. The bank is offering you
a 30-year mortgage that requires annual payments and has an
interest rate of 9% per year. You can afford to pay only $28,320
per year. The bank agrees to allow you to pay this amount each
year, yet still borrow...

You would like to buy a house that costs
$350,000.
You have
$50,000
in cash that you can put down on the house, but you need to
borrow the rest of the purchase price. The bank is offering you a
30-year mortgage that requires annual payments and has an interest
rate of
7%
per year. You can afford to pay only
$22,970
per year. The bank agrees to allow you to pay this amount each
year, yet still borrow
$300,000....

You want to buy a new car. You can afford payments of $300 per
month and can borrow the money at an annual interest rate of 5.5%
compounded monthly for 5 years. How much are you able to borrow? $
How much interest do you pay? $

You want to buy a new car. You can afford payments of $500 per
month and can borrow the money at an annual interest rate of 5.1%
compounded monthly for 5 years.
How much are you able to borrow?
$
How much interest do you pay?
$

1)You want to buy a house and wonder what you can afford. Banks
look at collateral, creditworthiness and capacity (ability to pay)
when making loans. Assume you have sufficient down payment and
credit score. Your bank has a requirement of 28% housing expense
ratio and your gross annual income is $69,000.
Based on those assumptions, how much can you afford to
pay in total housing costs each month?
2) You are looking to purchase a new home that is listed...

Estimate the maximum house value you can afford to buy. Assume
the mortgage is fixed rate, 30-year maturity, 80% LTV, with no
points. The interest rate is quoted is 3.5% with monthly payments.
The property tax rate in the city is 0.7% per year based on
property value; the hazard insurance premium is 0.5% per year based
on property value, and that on average you should consider $50 per
month for maintenance. Determine the required monthly payment for
the mortgage...

Suppose you can find a house that you want to buy. You have
negotiated with the sellers and have agreed upon a price of
$270,000. We are going to explore various options and how these
options will impact the overall cost of the loan.
Payment Frequency
Monthly
If you make monthly payments with an interest rate of 4.5% for
30 years, how much will your payments be? $
How much do you pay over the life of the loan? $...

I want to buy a house. The house costs $1,000,000. I put 20%
down and borrow the rest. If the mortgage is 30 years, and the rate
is 4.5%, what is the monthly payment?

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