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Tamera new house

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Reference no: EM133032550

Task

Question 1. What would Tamara's mortgage payments (principal and interest) be for the 15-year FRM on house #1?

Question 2. What would Tamara's total monthly payments be for the 15-year FRM on house #2?

Question 3. What would Tamara's mortgage payments (principal and interest) be for the 30-year FRM on house #2?

Question 4. What would Tamara's total monthly payments be for the 30-year FRM on house #1?

Question 5. What would Tamara's mortgage payments (principal and interest) be for year 7 on a 10/1 ARM?

Question 6. What would Tamara's mortgage payments (principal and interest) be for year 25 on a 10/1 ARM?

Question 7. What would Tamara's total monthly payments be for year 5 on a 10/1 ARM?

Question 8. What would Tamara's total monthly payments be for year 15 on a 10/1 ARM?

Question 9. Should Tamara choose to pay PMI, or should she choose to make a bigger down payment?

Question 10. How much money from her savings should Tamara use for a down payment?

Question 11. Should Tamara take out a 15-year FRM, a 30-year FRM, or an ARM?

A. In your best estimation, using all the facts, figures, and circumstances, what loan do you think Tamara should choose, and why?

Attachment:- Tameras New House.rar

Reference no: EM133032550

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