Question: Q:Question:You plan to purchase a house for $195,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 20

Q:Question:You plan to purchase a house for $195,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 20 percent of the purchase price. You will not pay off the mortgage early. Your bank offers you the following options for payments: OPTION 1: mortgage rate of 5.5 percent and zero points OPTION 2: mortgage rate of 5.35 percent and 1.5 points. Which should you choose?A:Answer:Down Payment for home : 195,000*0.2 =$39.000 Loan ...

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