0
Leo is purchasing a home for 209 000 his mortgage company requires that he put 20 percent down what will the mortgage amount be on his loan?
Wiki User
∙ 13y ago
209,000 * .2 = 41,800 down payment.
209,000 - 41,800 = 167,200 principal
final mortgage payment will vary depending upon escrow, taxes, etc.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
If You want to purchase a home for 125000 the mortgage requires that you put 20 percent down payment what is the amount of your mortgage loan?
2500
The price of a home is 220000 The bank requires a 20 percent down payment The balance is financed with a 30 year fixed rate mortgage at 75 percent what is the monthly mortgage payment to the neare?
an arm and a leg...
What is a mortgage company for?
A mortgage servicing company is a company that services the daily maintenance of a mortgage loan. In many cases, after a loan is taken out, and even if that loan is eventually sold to another bank or financial institution, the day-to-day operations is often handed over to another company. In taking this responsibility, the mortgage servicing company gets to take a small percentage of the interest payment, perhaps half a percent.
What percent of us homes have no mortgage?
According to the US Census about 70 percent of homes have a mortgage and 30 percent do not.
What is the average interest for lowest refinance mortgage rate?
The average interest for the lowest refinancing mortgage rate depends on the company and how long one has been paying the loan and the value of what is left. An example is one to four percent interest rate.
If You want to purchase a home for 125000 the mortgage requires that you put 20 percent down payment what is the amount of your mortgage loan?
2500
The price of a home is 220000 The bank requires a 20 percent down payment The balance is financed with a 30 year fixed rate mortgage at 75 percent what is the monthly mortgage payment to the neare?
an arm and a leg...
What is a mortgage company for?
A mortgage servicing company is a company that services the daily maintenance of a mortgage loan. In many cases, after a loan is taken out, and even if that loan is eventually sold to another bank or financial institution, the day-to-day operations is often handed over to another company. In taking this responsibility, the mortgage servicing company gets to take a small percentage of the interest payment, perhaps half a percent.
How can you calculate your mortgage at 7 percent for 30 years?
Many mortgage brokers have something called a mortgage calculator. Call your mortgage company they should be able to help you. When you find out what your mortgage is at 7% for 30 years you might consider, if qualified, to refinance into a lower interest rate.
What percent of us homes have no mortgage?
According to the US Census about 70 percent of homes have a mortgage and 30 percent do not.
What is the average interest for lowest refinance mortgage rate?
The average interest for the lowest refinancing mortgage rate depends on the company and how long one has been paying the loan and the value of what is left. An example is one to four percent interest rate.
How do you avoid mortgage insurance?
Avoiding mortgage insurance usually requires having sufficient equity so the lender doesn't require it. Mortgage insurance comes in two major forms. Private mortgage insurance, or PMI, is provided by private companies on conventional mortgage loans with balances over 80 percent of the home's value. Mortgage insurance premium, or MIP, is required on FHA loans. FHA requires both up-front MIP and monthly MIP. Mortgage insurance may be tax-deductible, just like mortgage interest is.Sponsored LinkAmerican ExpressGain Access to Exciting Events With American Express. Learn More!americanexpress.com1Provide a down payment of at least 20 percent or ensure you have 20 percent equity in the home if the loan is a refinance. This is the most common way to avoid mortgage insurance. Lenders know that if they have to foreclose, they risk losing money when the home is sold if the balance of the mortgage is more than 80 percent of the home's value. The PMI covers the losses incurred by the lender.2Obtain a second mortgage instead of having one mortgage if your down payment is less than 20 percent. Only first mortgage lenders can require PMI on the loan. If your first mortgage is at 80 percent and you have a 10 percent second, your loan will not require mortgage insurance, even though the two loans combined are over 80 percent of the value. The interest rate on the second mortgage may be higher than the first, but the total payment may be less than if you had a loan with PMI.3Find a loan program that does not require mortgage insurance. Just because the loan amount is over 80 percent of the home's value, that doesn't mean that mortgage insurance has to be provided. Some lenders have programs that allow higher loan amounts and do not require mortgage insurance coverage. Usually the interest rate is higher to account for the extra risk these loans have.4Ask the seller to pay for a single premium PMI for your loan at closing. Your loan will still have PMI, but if the seller pays for it, you do not have to. These policies require one payment up-front and no monthly payment. Many lenders allow the seller to pay part of the closing costs, and this can be included in your closing costs.
What does the term jumbo mortgage rate refer to?
A jumbo mortgage is an amount borrowed that is over the conventional limits. A jumbo mortgage rate is the percent interest to be paid on this inflated mortgage.
What are the lowest refinance mortgage rates?
The lowest mortgage refinance rates are currently around 2 percent.
What is the good interest rate on an mortgage loan is what percent?
The answer depends on whether you are the lender or the borrower and also in the country that you get the mortgage in.
Can you buy a home with 2 mortgages so you can pay 1 mortgage off and have a lower note for the balance of 30 yrs from having to only pay the one remaining mortgage This is a cash flow consideration.?
If I understand your question correctly, you would like to buy a home with a first and second mortgage because you feel that you would have the ability to pay off the second in a shorter period than your first. The answer is yes and these days it usually requires about 10 percent down payment because there are so few lenders offering a second mortgage to 95 percent due to the mortgage crisis and declining market values in some areas.
Ceiling Company purchased 1430000 6 percent bonds issued by Melissa Company on January 1 The purchase price of the bonds was 1480000 How to record journal entry for purchasing bonds?
[Debit] Investment in Melissa Company 1480000 [Credit]Cash/Bank 1480000
