MTH108 - House Project Part III - MTH108 House Project Part...

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MTH108 House Project, Part III Part III: Finding Mortgage Payments 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: 3.799% APR from Aimloan.com Loan 2: 15-year fixed mortgage: 3.026% APR from Aimloan.com Cite your source: Bankrate (n.a.). (2017). Mortgage Rates for May 26. Retrieved from ? type=newmortgage&market=180&propertyvalue=206250&loan=189900&perc=20&prods=2&fi co=740&points=Zero&cs=1

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