MLO Math
問題一覧
1
A borrower obtains a mortgage for $500,000 at 6.0%. If the borrower makes a payment of $2,500 for each of the first three months, what is the principal balance at the end of the third month?
$500,000
2
A borrower obtains a loan for $250,000 at 5% interest. If they make their required monthly payment of $1,342.05 for the first two months, what is the principal balance of the loan after the second payment?
$249,397.98
3
A borrower owes $200,000 on a first mortgage and $50,000 on a line of credit with a maximum amount of $100,000. If the property appraises for $500,000, what is the HLTV?
60%
4
A borrower obtains an adjustable-rate mortgage loan with a start rate of 4% for the first two years, after which (beginning in year three) the rate will be 5.25%. The lender's margin is 2.5%; the loan will adjust annually after the introductory rate, and there is a periodic rate cap of 2%. When the loan adjusts in year four, the index is 6%.
What will the interest rate be?
7.25%
5
A seller takes back a $150,000 mortgage at 6% interest. Payments are interest-only for 10 years. What balloon payment amount will be due ?
$150,000
6
A borrower has been at her job for 10 years and typically works overtime 5 hours per week at a time and a half. Her hourly rate is $15.75. What is the gross monthly income you can use to qualify her ?
$3241.90
7
How many days does the borrower have after servicing transfer statement to get payments to the new servicer ?
Grace period of 60 days No late fees
8
A homebuyer purchased a house for $220,000 and financed $200,000 with a
30-year conventional mortgage at 4% interest. His monthly principal and interest payment is $955. The annual property taxes are $1,400, and the combined annual insurance premium is $900. What is the buyer's PITI payment each month?
1,146.67
9
What is the monthly insurance payment for an individual who has a semi-annual insurance fee of $612?
$102
10
Calculating Maximum Interest Rates
Assume that an ARM's starting interest rate is 2.6% and the loan has a cap structure of 3/2/6.
What is the maximum possible interest rate for the loan after its initial adjustment?
7.6%
11
A borrower takes out a mortgage loan for $405,000 with a note rate of 4.75%.
Property taxes are $2,200 per half year, and insurance is $950 each year. The borrower paid 10% down, so the PMI factor for the loan is 0.42%. What is the borrower's total monthly payment?
$2190.72
問題一覧
1
A borrower obtains a mortgage for $500,000 at 6.0%. If the borrower makes a payment of $2,500 for each of the first three months, what is the principal balance at the end of the third month?
$500,000
2
A borrower obtains a loan for $250,000 at 5% interest. If they make their required monthly payment of $1,342.05 for the first two months, what is the principal balance of the loan after the second payment?
$249,397.98
3
A borrower owes $200,000 on a first mortgage and $50,000 on a line of credit with a maximum amount of $100,000. If the property appraises for $500,000, what is the HLTV?
60%
4
A borrower obtains an adjustable-rate mortgage loan with a start rate of 4% for the first two years, after which (beginning in year three) the rate will be 5.25%. The lender's margin is 2.5%; the loan will adjust annually after the introductory rate, and there is a periodic rate cap of 2%. When the loan adjusts in year four, the index is 6%.
What will the interest rate be?
7.25%
5
A seller takes back a $150,000 mortgage at 6% interest. Payments are interest-only for 10 years. What balloon payment amount will be due ?
$150,000
6
A borrower has been at her job for 10 years and typically works overtime 5 hours per week at a time and a half. Her hourly rate is $15.75. What is the gross monthly income you can use to qualify her ?
$3241.90
7
How many days does the borrower have after servicing transfer statement to get payments to the new servicer ?
Grace period of 60 days No late fees
8
A homebuyer purchased a house for $220,000 and financed $200,000 with a
30-year conventional mortgage at 4% interest. His monthly principal and interest payment is $955. The annual property taxes are $1,400, and the combined annual insurance premium is $900. What is the buyer's PITI payment each month?
1,146.67
9
What is the monthly insurance payment for an individual who has a semi-annual insurance fee of $612?
$102
10
Calculating Maximum Interest Rates
Assume that an ARM's starting interest rate is 2.6% and the loan has a cap structure of 3/2/6.
What is the maximum possible interest rate for the loan after its initial adjustment?
7.6%
11
A borrower takes out a mortgage loan for $405,000 with a note rate of 4.75%.
Property taxes are $2,200 per half year, and insurance is $950 each year. The borrower paid 10% down, so the PMI factor for the loan is 0.42%. What is the borrower's total monthly payment?
$2190.72