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If a house is 200000 with 5 percent down payment What is the loan amount?
Wiki User
∙ 9y ago
The loan amount will be $190,000 and a down payment of $10,000 is required. To calculate this, find 5% of 200,000, which in an equation is .05 times 200,000. Then subtract that total (10,000) from the price of the house (200,000) to arrive at 190,000.
Wiki User
∙ 9y ago
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Income should be paid on a house payment?
25 percent of income should go to house payment but the average is more like 50 percent.
Does the down payment for a house take money off the loan from the bank?
No, the "down payment" is made directly from the buyer to the seller and is on top of the amount loaned by the bank to complete the purchase price. In a sense, the larger the down payment the smaller the loan that will be needed, so it would "take money off the AMOUNT of the loan", but not have any impact on the repayment of the loaned amount. For instance, if my down payment is 90 percent of the purchase price, the loan only needs to cover the remaining 10 percent.
How much would Ray pay as a down payment on a 67000 house if he made a 20 percent down payment?
13400 is 20% of 67000.
Monthly payment on 217000 30yrs at 4.5 percent What would the monthly payment be?
Want to know what our monthly house payment will be owing 217000.00 on a 30 year loan at 4.5%
How much would you have to finance if you bought a 52500 house with a 10 percent down payment?
47,250 A+
Income should be paid on a house payment?
25 percent of income should go to house payment but the average is more like 50 percent.
Does the down payment for a house take money off the loan from the bank?
No, the "down payment" is made directly from the buyer to the seller and is on top of the amount loaned by the bank to complete the purchase price. In a sense, the larger the down payment the smaller the loan that will be needed, so it would "take money off the AMOUNT of the loan", but not have any impact on the repayment of the loaned amount. For instance, if my down payment is 90 percent of the purchase price, the loan only needs to cover the remaining 10 percent.
What is a down payment with regard to buying a house?
3.5% of Loan amount
How much would Ray pay as a down payment on a 67000 house if he made a 20 percent down payment?
13400 is 20% of 67000.
Carrie has decided she can only afford to spend 30 percent of her yearly income on her house payment if she earns 42000 each year what is her highest monly house payment she can afford?
8
Monthly payment on 217000 30yrs at 4.5 percent What would the monthly payment be?
Want to know what our monthly house payment will be owing 217000.00 on a 30 year loan at 4.5%
How much would you have to finance if you bought a 52500 house with a 10 percent down payment?
47,250 A+
Whats the average price of a house in 2008?
i think the price of a house in 2008 is about 200000
When a house cat is born how much does it weigh?
200000 kg
How much would the payment be on a 325000 house at 3.5 percent interest rate over 30 years?
1900
What is a down payment on a house?
Most people borrow money from a bank when they want to buy a house, but they usually do not borrow 100% of the cost of the house. They usually do have some money to apply toward the cost of the house, and that amount is called a down payment. So to buy a house costing $200,000 a person might make a down payment of $50,000 and then borrow the remaining $150,000.
How do you calculate down payment?
Find out the sales price of the house you want to purchase. If you are not in negotiation with the seller, the price for which it is listed will work. For example, if the house is listed at $100,000 sales price, use this number for your calculations. Multiply the purchase price by 5 percent, the minimum down payment required for most conventional mortgages. For this example, multiply $100,000 (the sales price) by 5 percent (or 0.05) to equal $5,000. Therefore, the minimum down payment for a conventional mortgage on the $100,000 house is $5,000. Note that you will have to pay PMI (private mortgage insurance) if your down payment is less than 20 percent of the price of the home. PMI is a fee charged by the lender to the borrower that protects the lender in the event of the borrower's default. In other words, the only benefiting party when you pay PMI is the lender. To avoid PMI, make a down payment of at least 20 percent. Calculate that amount by multiplying your sales price by 20 percent. For this example, $100,000 x 0.20 = $20,000.
