Will purchased a $175,000 home with a 7/23 balloon mortgage. His initial rate was 3.5%. At the end of the initial rate, he decided to refinance the balloon payment with a 30-year mortgage fixed at 5%.

Will purchased a $175,000 home with a 7/23 balloon mortgage. His initial rate was 3.5%. At the end of the initial rate, he decided to refinance the balloon payment with a 30-year mortgage fixed at 5%. What is his new mortgage payment?

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Will purchased a $175,000 home with a 7/23 balloon mortgage. His initial rate was 3.5%. At the end of the initial rate, he decided to refinance the balloon payment with a 30-yea…

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