BA questions

Task 1

1. What would Tamara’s mortgage payments (principal and interest) be for the 15-year FRM on house #1? 

0. What would Tamara’s total monthly payments be for the 15-year FRM on house #2?

0. What would Tamara’s mortgage payments (principal and interest) be for the 30-year FRM on house #2? 

0. What would Tamara’s total monthly payments be for the 30-year FRM on house #1?

0. What would Tamara’s mortgage payments (principal and interest) be for year 7 on a 10/1 ARM? 

0. What would Tamara’s mortgage payments (principal and interest) be for year 25 on a 10/1 ARM? 

0. What would Tamara’s total monthly payments be for year 5 on a 10/1 ARM?

0. What would Tamara’s total monthly payments be for year 15 on a 10/1 ARM?

0. Should Tamara choose to pay PMI, or should she choose to make a bigger down payment?

0. How much money from her savings should Tamara use for a down payment?

0. Should Tamara take out a 15-year FRM, a 30-year FRM, or an ARM?

1. In your best estimation, using all the facts, figures, and circumstances, what loan do you think Tamara should choose, and why?