Narrative 14-2 For Problems in This Section, Use Table 14-1 from Your

question 53

Short Answer

Narrative 14-2
For problems in this section, use Table 14-1 from your text to find monthly mortgage payments.
-Refer to Narrative in your text 14-2. Maria Diaz is planning a $25,000 addition to her home. The home was appraised at $186,000 and the balance on her existing first mortgage is $99,000. Maria's bank is willing to lend 65% of the appraised value. What is the potential amount of credit available to Maria on a home equity line of credit?

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