Question

HELP FAST PLZ

The same house costing $500,000 with the 15-year mortgage and the APR of
4.5% would have what amount for its first month's principal payment?

Answer 1

Explanation:

How much would the mortgage payment be on a $500K house? Assuming you have a 20% down payment ($100,000), your total mortgage on a $500,000 home would be $400,000. For a 30-year fixed mortgage with a 3.5% interest rate, you would be looking at a $1,796 monthly payment.