1.- Original loan balance = 450,000. Mortgage rate is 4.15%. 15 yr fixed rate. Monthly payment. What is the principal payment of 60th payment?
2.- Original loan balance = 510,000. Mortgage rate is 4.2%. 30 yr fixed rate. Monthly payment. What is the principal payment of 300th payment?
3.- Original loan balance = 490,000. Teaser rate is 2.8%. 5/1 ARM of 30 year term. Margin is 3%. Index is Libor. At the origination the Libor rate was 1.1%. Life of loan cap is 4%. Annual rate cap is 1.5%. At 5 year, Libor became 3%. What is the new monthly payment?
4.- Original Loan balance is 470,000. The rate is 5.5%. This is option ARM with monthly payment. For the first year, the monthly payment was capped at 1,600. After 1 year, what is the new balance?