Mortgage Practice

Joe wants to get a $150,000 mortgage. The monthly payment is $794. How much will he have paid at the end of the loan term, if he gets a 25 year mortgage?

• $188,200

• $238,200

• $150,794

Tags

CCSS.7.EE.B.3

The normal _______ for a mortgage is up to 30 years

• Term

• Interest Rate

• Loan

Tags

CCSS.7.RP.A.3

The Lawrence's consider purchasing a new home for $224,000. A 10 percent down payment is required. What is the amount of the mortgage loan needed to finance the purchase?

• $20,160.00

• $22,400

• $201,600

Tags

CCSS.6.RP.A.3C

If the cash price of an house is $230,000, and you are asked to make a down payment of 10%, how much will you pay?

• $23,000

• $2,300

• $20,700

Tags

CCSS.6.RP.A.3C

You want to buy a house that is valued at $215,000. You are putting 15% down. What is the down payment? What is the loan amount?

• $15; $214985

• $3225; $211,775

• $32,250; $182,750

Tags

CCSS.6.RP.A.3C

Liz and Rob purchased a house for $565,000. They put 20% down on the house. What was their down payment?

• $113,000

• $452,000

• $11,300

Tags

CCSS.6.RP.A.3C

Marcus and Kenya purchased a house for $325,000. They put 15% down on the house. What is their mortgage amount?

• $48,750

• $276,250

• $32,500

Tags

CCSS.6.RP.A.3C

Use the chart above to find the monthly payment for a 15 year, $200,000 loan at 9%.

• $10.14

• $202.80

• $2028

Tags

CCSS.7.RP.A.3

Use the chart.

What is the monthly payment on a 30 year, $100,000 loan at 7%?

• $6.65

• $665

• $6650

Tags

CCSS.7.RP.A.3

Use the chart.

How much will Heidi pay by the end of her $89,000 mortgage if her interest rate is 11% and she has a 15 year term?

• $1011.93

• $30,357.90

• $364,294.80

Tags

CCSS.7.RP.A.3