QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 356 Weeks Ago, 6 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 11 Jun 2017 My Price 13.00

Make a Mortgage Research

Question description

 

 

800 – 1,000 words Plus References

  • Find 5 different online mortgage lenders. such as this one (www.lendingtree.com)

  • From these 5 lenders, find the following rates, assuming the mortgage payments are made monthly:

    • 10-year (if available) for fixed-rate mortgage

    • 15-year (if available) for fixed-rate mortgage

    • 30-year for fixed-rate mortgage

  • Convert these rates into effective annual rates (EARs).

  • Discuss which rate is actually the cheapest rate.

    • What are 2 things about the sample Web site given above that could be applicable to a consumer or investor?

    • Present the rates in a table. List the quoted rate and EAR rate, the lender, and the maturity of the loan. Show your work for each calculation.

    • What is 1 mistake people make when calculating their mortgage payments? Explain your answer.

    • Based solely on the EAR, which rate is the cheapest? Does this make sense?

    • Why do the different lenders have different rates?

    • Is the difference in rates going to make a huge impact on the cost to the homebuyer? Explain your answer.

Answers

QuickHelper
(10)
Status NEW Posted 11 Jun 2017 10:06 AM My Price 13.00

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