MTH108 - House Project Part III (1)#### - MTH108 House...

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MTH108 House Project, Part IIIInstructions:This is the third part of a course-long project. Show all work for each section. Any paragraphs should be typed and written in complete sentences. Use Times New Roman, 12-point font anddouble space. Cite any resource(s) you use – click the course research guide for helpful information on APA formatting.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.):__4.31%_______ Loan 2: 15-year fixed mortgage (2 pts.):____3.49%_____Cite your source (1 pt.):___________www.Bankrate.com___-rates.aspx_______________

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