Suppose that you are buying a house for $205,000. The loan is at a fixed APR of 3.5% for 30 years. Option 1: Making a down payment 1. If a 10% down payment is required, calculate this amount: 20,500 184,500 2. What amount remains to be financed (this will be your loan amount)?VOT (Please write this value in the chart below in the first row under "Balance".) 3. Use the "Loan Payment Formula" to calculate your monthly payment.
​