Home Loan Problems Set 3 Question 1
Click here to return to the index page for all Home Loan Problems
Question 1
Dylan is buying a $210000 two bedroom house. Dylan is getting a mortgage from the First Federal S&L of Charleston. He's managed to collect enough money to make a 13 % deposit. The length of the mortgage is 25 years, and his interest rate is fixed at 9.8 %.
Calculate how much his total monthly payment is going to be.