You have been asked to appraise a 4 bedroom house with 2 bathrooms that is going to be sold tomorrow. You have found 1 comparison property that sold for $325,000 5 weeks ago from today that has 3 bedrooms and 3 bathrooms. You estimate value have been decreasing at a rate of $5,000 per week since that property transacted, each bedroom is worth $32,000 and a bathroom is worth $11,000 in the respective market, what is your best estimate of the market price of the subject property tomorrow? Ans.: $321,000
You have locked-in 6.0% for a 30-year FRM for $240,000. What is the size of the 3rd payment that attributes to the repayment of principal? Around what point in time, the repayment to interest is equal to the repayment to principal?
What is the monthly payment and the balance after 45 payments of a $100,000 30-year FRM loan at 4.8%?
What is the monthly payment of a $346,000 10-year term fixed rate mortgage at 9.6% loan with payments set to amortize over a 30-year period before maturity? What would be the size of the balloon payment at the end of year 10?