You need a loan of $195,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices. Choice 1:...

You need a loan of $195,000 to buy a home.<br>Calculate your monthly payments and total<br>closing costs for each choice below. Briefly<br>discuss how you would decide between the<br>two choices. Choice 1: 30-year fixed rate at 6<br>% with closing costs of $1800 and no points.<br>Choice 2:30-year fixed rate at 5.5% with<br>closing costs of $1800 and 2 points.<br>What is the monthly payment for choice 1?<br>What is the monthly payment for choice 2?<br>What is the best option.<br>Why is it the best option?<br>

Extracted text: You need a loan of $195,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices. Choice 1: 30-year fixed rate at 6 % with closing costs of $1800 and no points. Choice 2:30-year fixed rate at 5.5% with closing costs of $1800 and 2 points. What is the monthly payment for choice 1? What is the monthly payment for choice 2? What is the best option. Why is it the best option?

Jun 06, 2022

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You need a loan of $195,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices. Choice 1:...

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