Posted: December 4th, 2022
Make a Mortgage Research
Assessment Brief
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.
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