Sadie Pauley _House Project Part III - Sadie Pauley MTH108...

This preview shows page 1 - 2 out of 4 pages.

Sadie Pauley MTH108 House Project, Part III Part III: Finding Mortgage Payments (35 pts.) In this scenario, you cannot pay cash for your home (Refer to your answers in House Project, Part II) and you will need to get a loan from a financial institution. Research and find a current interest rate for both a 30-year fixed mortgage and a 15-year fixed mortgage through your bank or other source such as . Note: For all of House Project Part III, the calculated loans will not require a PMI payment. 1. Record the interest rate for each loan from the bank of your choosing (remember interest rates are percentages): Loan 1: 30-year fixed mortgage (2 pts.):___3.98%______ Loan 2: 15-year fixed mortgage (2 pts.):___3.15%______ Cite your source (1 pt.): Zillow, I. (n.d.). Mortgage Rates - Current Mortgage Rates & Home Loans. Retrieved January 25, 2017, from - rates/#purpose=Purchase&filters=339944&request=ZR-WQRPZVNR

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture