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For this assignment, visit the website below and experiment with different home values, down payments, mortgage types, and interest rates. Also, explore the full payment schedule on the website and review the interest, principle, and balance changes for different mortgage options.
Mortgage Calculator: https://www.daveramsey.com/mortgage-calculatorLinks to an external site.
Links to an external site.In a one- to three-page paper explain how such factors as home value, down payments, mortgage types, and interest rates affect the total monthly mortgage payment. Explain if any of these factors surprise you and the reasons why. What strategies could you take to pay the least amount for a house (or business location) over the life of the loan?
Your paper should be in the current APA style and include a title page and reference list for all sources used. You should use a minimum of three scholarly sources (your textbook can be one of the sources).