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Giselle wants to buy a condo that has a purchase price of $163,000. Giselle earns $2,986 a month and wants to spend no more than 25% of her income on her mortgage payment. She has saved up $33,000 for a down payment. Giselle is considering th following loan option: 20% down, 30 year at a fixed rate of 6.25%. What modification can be made to this loan to make it a viable option, given Giselle’s situation? a. Change to a 15 year fixed loan b. Change the interest to 5.5% c. Change the down payment to 18% down d. None. This is a viable option for Giselle.
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Asked 3/4/2014 5:10:13 PM
Updated 3/4/2014 5:25:28 PM
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User: Giselle wants to buy a condo that has a purchase price of $163,000. Giselle earns $2,986 a month and wants to spend no more than 25% of her income on her mortgage payment. She has saved up $33,000 for a down payment. Giselle is considering th following loan option: 20% down, 30 year at a fixed rate of 6.25%. What modification can be made to this loan to make it a viable option, given Giselle’s situation? a. Change to a 15 year fixed loan b. Change the interest to 5.5% c. Change the down payment to 18% down d. None. This is a viable option for Giselle.

Weegy: d. none. this is a viable option for Giselle
melfundayy|Points 160|

User: The Williams are buying a house that costs $323,000 and can afford a 10% down payment. If the Williams want the lowest monthly payment, which loan option would you recommend? a. 15 year fixed, 5% down at a fixed rate of 5.5% b. 30 year FHA, 3.5% down at a fixed rate of 6.25% c. 30 year fixed, 20% down at a fixed rate of 5.75% d. 30 year fixed, 10% down at a fixed rate of 6%

Weegy: 30 year fixed, 20% down at a fixed rate of 5.75%
jeifunk|Points 16917|

User: Housing expenses are commonly referred to as PITI. What does PITI stand for? a. principal, income, taxes, investment b. payment, investment, terms, insurance c. payment, interest, terms, income d. principal, interest, taxes, insurance

Question
Asked 3/4/2014 5:10:13 PM
Updated 3/4/2014 5:25:28 PM
1 Answer/Comment
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PITI stand for d. principal, interest, taxes, insurance.
Added 3/4/2014 5:25:28 PM
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