Shopping for a mortgage, Julie Magardino is shopping for a

Shopping for a mortgage

Assignment Help Financial Management

Reference no: EM13813890

Julie Magardino is shopping for a mortgage. She needs to borrow $350,000. Bank of America’s rate for a 30-year fixed rate loan is 4.50% while Wells Fargo is offering her a rate of 4.67%. What will her respective monthly payments be with both lenders? Julie’s husband says since the rates are so similar and his buddy runs the mortgage office at Wells Fargo, he wants to sign with Wells Fargo. Over the life of the loan, how much more will Julie pay if she chooses Wells Fargo?

Reference no: EM13813890

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Shopping for a mortgage : Julie Magardino is shopping for a mortgage. She needs to borrow $350,000. Bank of America’s rate for a 30-year fixed rate loan is 4.50% while Wells Fargo is offering her a rate of 4.67%. What will her respective monthly payments be with both lenders?..

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