Part 2: Buying a house (50 points):
Below is the listing for a house in Prescott that you will go through the process of
purchasing. You will need to compute your down payment and your monthly payment
for a 20 year loan and a 30 year loan.
3 bd 2 no
1,125 sqft
1141 W Skyview Dr, Prescott, AZ 86303
• Sold
: $410,000 Sold on 10/19/23 Zestima
$410,000
There are multiple ways to compute a down payment; typically, you put down 20% but
you also may do an 80/10/10 loan. Go here to find out more about down payments:
https://www.bankrate.com/finance/mortgages/down-payment-1.aspx
1. Compute the 10% down payment on the house above.
(2.5 points)
2. Compute the amount financed if you paid the 10% down payment:
(2.5 points)
