$1.$ You buy a $$300,000$ house and have a $20\%$ down payment $($hence the mortgage is for $$240,000).$ You want to know your monthly payments with a $15$ vs$.30$ year term a$.$ Option $1$: A $30$ year mortgage has a rate of $6\mathrm{.}0\%$ and $0$ points. $$ b$.$ Option $2$: A $15$ year mortgage has a rate of $5\mathrm{.}5\%$ and $0$ points.