Mathematics, 01.10.2019 08:00 CoolxBreeze
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 the 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.
Answers: 2
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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...
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