A mortgage loan of 200000 has just been made on a property, Ask an Expert

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A mortgage loan of $200,000 has just been made on a property valued at $250,000. The interest rate is 5% with 2 points with a 10 year balloon. Monthly amortization payments are based on a 30 year maturity. The mortgage also carries a 2% prepayment penalty.

a. What is the indicated loan-to-value ratio?

b. What is the monthly mortgage payment?

c. How much interest is paid in the fourth year?

d. What is the dollar amount of the balloon payment?

e. If the mortgage is paid off after 6 years what will the effective yield be?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92402836

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