What is the maximum monthly mortgage payment allowed

Assignment Help Financial Management
Reference no: EM132048088

1. Coretta Bradley got a $75,000 mortgage loan for 15 years at 4.85%. The property taxes on the property are $2,060 annually and the insurance premium is $945. What is the amount of the monthly payment, including the amount put in escrow?

2. Jason Bradley’s brother is getting qualified for a VA mortgage loan. His monthly salary is $5,214. Annual property taxes on the property are $2,491 and insurance is $763. He has a car payment of $437.50 and a student loan of $325 to pay each month. The VA has a qualifying ratio of 41%. What is the maximum monthly mortgage payment allowed?

Reference no: EM132048088

Questions Cloud

What should be potash share price : Potash Corporation of Saskatchewan Inc. produces and sells fertilizers and related industrial and feed products worldwide.
Discuss the concerns related to valuing firm : Discuss the concerns related to valuing a firm that deals in multiple currencies.
Some people claim meditation has a wide range of benefits : Some people claim meditation has a wide range of benefits. What are some of the benefits that can be supported by scientific evidence?
Causative agents of meningitis are ineffective : Many antibiotics that should kill the causative agents of meningitis are ineffective if given orally.
What is the maximum monthly mortgage payment allowed : What is the amount of the monthly payment, including the amount put in escrow? What is the maximum monthly mortgage payment allowed?
What is the equivalent annual cost of the tool : A precision lathe costs $14,000 and will cost $24,000 a year to operate and maintain. If the discount rate is 12% and the lathe will last for 3 years.
Calculate the past growth rate in earnings : Calculate the past growth rate in earnings. What is Bouchard's cost of retained earnings, rs?
Share a common ancestor with rodents : A. Lagomorphs (rabbits, hares, pikas) share a common ancestor with rodents (rats, mice, squirrels, etc.).
Find the net present value of the given project : Potter Company has a unique opportunity to invest in a two-year project in Australia. The project is expected to generate 1,100,000 Australian dollars (A$).

Reviews

Write a Review

Financial Management Questions & Answers

  Company capital structure weights on book value basis

Bonaime, Inc., has 6.1 million shares of common stock outstanding. What are the company’s capital structure weights on a book value basis?

  Required to fill the operating room staffing positions

Metropolis Health System (MHS) uses a basic work week of 40 hours throughout the sys- tem. Thus, one full-time employee works 40 hours per week. MHS also uses a standard 24-hour scheduling system of three 8-hour shifts. Set up a staffing requirements..

  Future value-annuity versus annuity due

FUTURE VALUE: ANNUITY VERSUS ANNUITY DUE What's the future value of a 8%, 5-year ordinary annuity that pays $100 each year?

  Firm with very positive prospects to raise new capital

A firm with very positive prospects, to raise new capital, the firm should avoid:

  Defined benefit or defined contribution pension plan

What is the trend in companies offering a defined benefit or a defined contribution pension plan?

  P-E Ratio and Stock Price International Business Machines

P/E Ratio and Stock Price International Business Machines (IBM) has earnings per share of $6.90 and a P/E ratio of 15.20. What is the stock price?

  Compute the holding period yield for the year

On January 1 you bought 200 shars of ABC stock for $28.45 per share at the end of the year, Compute the holding period yield for the year.

  Describe each option strategy in your response

What factors should he consider in making his decision of which option strategy to use? Be sure to describe each option strategy in your response.

  By shopping around-homeowner can probably avoid

By shopping around, a homeowner can probably avoid which of the following fees? All of the following are true of FHA loans,

  The firm has no long-term debt

Harvey Supplies Inc. has a current ratio of 4.56, a quick ratio of 1.95, and an inventory turnover ratio of 11.21.  Harvey's total assets are $8,407,769 million and its debt ratio is 0.47.  The firm has no long-term debt. What is Harvey's sales figur..

  Implicit interest in dollars for first year of bonds life

A newly issued 20-year, $1,000, zero coupon bond just sold for $311.05. What is the implicit interest, in dollars, for the first year of the bond's life?

  Compute the value of this stock with a required return

A firm is expected to pay a dividend of $2.65 next year and $2.80 the following year. Financial analysts believe the stock will be at their price target of $45 in two years. Compute the value of this stock with a required return of 12.6 percent.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd