Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if you buy a home with less than 20% down, you wil

if you buy a home with less than 20% down, you will pay an additional...

70.2K

Verified Solution

Question

Accounting

if you buy a home with less than 20% down, you will pay an additional monthly fee, PMI, until you reach 20% equity. Keep track of when you reach 20% equity so you can request to have you PMI removed. Ken Buckmiller's home recently appraised at $292,000. His mortgage was for $277,000 at 5% for 30 years with PMI of $249.17 per month. What is his monthly payment plus PMI? His mortgage balance is currently $170,500. Has he reached 20% equity

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. (a) Define social class. How is social class different for the other systems of stratification...

Psychology
Q

Check whether the indicated application is best represented by an open-loop or closed loop control system model.  If...

Electrical Engineering
Q

In many ways, studying at university is analogous to working in a matrix environment in an...

General Management
Q

1 2 1 6 Let T R R be the linear transformation with standard matrix...

Basic Math
Q

Choose the measurement closest to 50 liters: 14 gal, 140 gal or 50 gal.Choose the...

Basic Math
Q

For each equation, choose the statement that describes its solution.If applicable, give the solution.4(v +...

Basic Math
Q

A conical trough has a radius of 4 feet and a height of 9 feet...

Calculus
Q

Find the measure of the least positive angle that is coterminal with the angle given...

Calculus
Q

Given y A sin B x C D thoose the statement that is NOT true...

Algebra
Q

Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average...

Accounting
Q

11. Explain the probable income tax treatment of a family member's sale of property to...

Accounting
Q

Architects fee should be classified as a. Land...

Accounting