Pre-Calc Finance Project
Sruthi Jana
Scenario 2
She can afford a monthly payment of $3647.22
She is also eligible to borrow $708,410.83 from the bank, since the interest rate for a 30 year fixed late loan is 4.625%
Harper can buy a house!
more info...
Her monthly minimum mortgage payment would be $3161.96.
If she increased her payment by 15%, she would be paying a monthly mortgage payment of $3636.25. This could be beneficial to Harper, since it could save her $140,939.31 over time.
Increasing her monthly payment by 15% could also save her about 7.14 years on her 30 year mortgage.
works cited:
http://www.remax-midstates.com/Home/5614-W-144th-Terrace-Overland-Park-KS-66223/HRT/1860347/
Harper's dream home!
Email: lindapiana@gmail.com
Website: http://www.remax-midstates.com/
Location: 5614 W 144th Terrace, Overland Park, KS, United States
Phone: 913-908-7575