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My spouse and I are buing a $275,000 home with a $55,000 cash down payment and the options havr been presented to us 1. 30 year loan @ 10% without...
My spouse and I are buing a $275,000 home with a $55,000 cash down payment and the options havr been presented to us1. 30 year loan @ 10% without points or 7% with three points paid upfront. Which is better?2. What will be additional monthly payments of $100 do to tearm of our loan and how moch would we save with the option above, over the life of the loan. (provide the total cash outlay for each scenerio format)3.How much would we have to pay monthly in each option in one to pay the loan off in 15 yeaars rather than 30Amortization tableMorgtage $220,000 Price $275,000$55,0004. please provide us the loan amorrization schedules and a professional letter regarding your findings 5. Professionally present your letter and supporting documents6. prepare a summery "top-level" grid schedule that the client may easily follow
