Getting a Mortgage

Liz and Rob purchased a house for $565,000. They put 20% down on the house. What was their down payment?

• $113,000

• $452,000

• $11,300

• $553,700

Marcus and Kenya purchased a house for $325,000. They put 15% down on the house. What is their mortgage amount?

• $48,750

• $276,250

• $32,500

• $292,500

Jen Sue got a $275,000 mortgage for 25 years at 6.0%. How much will the monthly mortgage payment be?

• $1,688.50

• $1,856.25

• $1,650

• $1,771

Juan put down 25% on a $190,000. What are the monthly mortgage payments for a 20 year loan at 7.5%?

• $47,500

• $142,500

• $1,148.55

• $966.08

Jill purchased a house for $155,000. She paid 15% down. What are her monthly mortgage payments for a 30 year loan at 8.0%?

• $967.05

• $231,750

• $23,250

• $1,017.11

Sam's mortgage was $164,000. The closing costs were 2 points and $3,500 in fees. What were his total closing costs?

• $3,280

• $3,500

• $6,780

• $160,720

Jacquelyn borrowed $333,333 to purchase her new home. Her closing costs were 1.5 points, $500 in attorney fees, and $375 in title fees. What were her total closing costs?

• $5,875

• $5,000

• $5,500

• $875

CHOOSE TWO ANSWERS: What is the mortgage amount and the monthly mortgage payments? Tommy and Ellen purchased a $99,000 house and put 10% down. Their mortgage is for 25 years at 7.5%.

• $9,900

• $89,100

• $658.45

• $676.74

• $91,575

Bryan wants to purchase a condo at Fox Run for $186,000. He is required to put 25% down. How much money must he have saved up for his down payment in order to purchase the condo?

• $37,200

• $189,500

• $46,500

• $4,650

Charlie and Rhonda bought a house for $258,000 and put 15% down. Their mortgage is for 30 years at 9%. What is the mortgage amount and the monthly mortgage payments? CHOOSE TWO ANSWERS.

• $38,700

• $219,300

• $234,780

• $1,889.98

• $1,765.37