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Determine the amount of the required down payment

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Reference no: EM131457860

Karen Guardino is purchasing a brownstone townhouse for ?$1, 550,000. The mortgage broker she is working with is requiring her to make a 20?% down payment. The current mortgage rate is 6.0?%. ?

Monthly Principal 30 years at 6.5% is 6.32068

a) Determine the amount of the required down payment is $____________

b) The monthly mortgage payment is ?$_________ Round to the nearest cent as? needed.)

Reference no: EM131457860

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