Home price given the lender loan parameters

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Reference no: EM132061973

1. What is the maximum house price you can afford if your gross monthly income is $6000, you have $1500 in monthly long-term obligations, and you can make a down payment of 20% of the home price given the following lender’s loan parameters?

Interest Rate: 7.5%

Loan type: 15 years

Housing Expense Ratio: 25%

Total Debt Ratio: 35%

$80,905.07

$127,199.05

$154,385.47

$161,810.14

2. The higher the coupon rate of a bond:

a. the hight it face value

b. the lower its current price

c. the longer its maturity

d. the lower its coupon payments

e. the higher its coupoon payments

Reference no: EM132061973

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