I am doing a housing project for econimics class. I am buying a house that costs $319,900.00. I have to put 20% down which is $63,980.00. This is so I don't have to pay PMI. How much do I have to borrow?

Answer 1

$319,900 - 63,980 = ?

Answer 2

can you explain pmi?

Answer 3

http://www.bankrate.com/finance/mortgages/the-basics-of-private-mortgage-insurance-pmi.aspx

Answer 4

Thanks

Answer 5

You're welcome.

Answer 6

What would my monthly payment be on my loan ($255,920.00) if I pay for 25 years at 6.5%?

Answer 7

I = PRT
I = 225,900 * 0.065 * 25

I = 367,087.50

367,087.50 + 255,920.00 = 623,007.5

623,007.5 / 300 months = $2,076.69 per month

Answer 8

what is PRT?

Answer 9

Principal times Rate times Time

Answer 10

Where did you get the amountif $225,900?

Answer 11

Where did you get the principal amount which is 225,900?

Answer 12

Where did you get the principal amount which is 225,900?