Since 20% down payment, we will find the 20% of that $250,000.
10% is $25,000, now times by 2 would be 20% which is $50,000.
Now $250,000 - $50,000 = $200,000 which would be rest of the non-payed payment.
We will divide $200,000 with the 25 year loan. $200,000/25 = $8,000
There is also the 5% interest.
1% of $8,000 is $80 and times that by 5 would be 5% which is $400.
$8,000 + $400 = $8,400.
Since it is monthly, we will divide $8,400 by 12 months. $8,400/12 = $700.
The monthly payment would be $700.
(I hope this is correct.)
