Here we have a loan at $107,000 at 5.5 % interest rate. What would the new principal be after the third payment, if the monthly payment was $636?
Let's Solve A Quick Proration Problem....Real estate students often ask, "How the heck am I supposed to remember how many days are in each month?" When you are
What do points cost a borrower? When a homebuyer purchases a point, aka discount point, they pay 1 percent of the loan amount per point. People get confused