Down payment while financing the rest

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Reference no: EM132018158

Assume you have been working at your first job since college.. You now wish to buy a house for $450,000. You plan to make a 35 percent down payment while financing the rest. Assuming your neighborhood bank offers you a 30-year mortgage with a 4.50% interest rate, what will your monthly payments be? How would your monthly payments change if you increased your down payment to 50 percent?

Reference no: EM132018158

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