Mortgage

I borrow 200,000 to purchase a house worth 250,000, putting down 50,000 of my own. The borrowing is at 5% over 30 years. What are the basic double-entry bookkeeping entries I must make to record... more

A home selling for $620,000 is to be purchased with a 30% down payment and the remainder financed through mortgage with monthly payments over 25 years. Determine the monthly payment if rates for... more

I really need help with this

jerry takes out a 30 year mortgage for $250,000 to buy a condo. his monthly mortgage payment is $1,000. How much interest will he pay over the life of the loan?

You have decided that you want to buy a home in 6 years, you believe you can afford a house that is $240,000.   A.) If you want to have 15% for a down payment, how much will you need to have for... more

the principal and interest payment is 402.62

 Lateefah and eric have been granted a mortgage loan at an annual rate of 5.5 percent for 15 years. the home has a selling price of $175,000and they need a 20 percent down payment. the bank will... more

A family wants to purchase a house that costs $130,000. They plan to take out a $100,000 mortgage on the house and put $30,000 as a down payment. The bank informs them that with a 15-year mortgage... more

When you purchase a home by securing a mortgage, the total paid toward the principal is your equity in the home. (Technically, the lending agency calculates your equity by subtracting the amount... more