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A mortgage was taken out for $235,000 at 8.75% for 25 years. The annual property taxes are $6,345, hazard?

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insurance premium is $1,479. What is the monthly PITI payment of the loan?

A. $2,729,40

B. $2,586.05

C. $1,849.45

D. $652.00

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  1. About $1320/mo more PITI than my 20 yr loan.  Isn't that sub-prime interest?

    Using an online mortage calculator I found through Yahoo, and my Windows calculator, I figured within $2 of one of those choices.

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