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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?

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anthonyfeliciano579

Answer:

Step-by-step 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.

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