Mathematics, 07.12.2020 01:00 gameranonymous266
Please help!
The Johnsons are buying a house that costs $210,000 and can afford a 20% down payment. If the Johnsons want the lowest monthly payment, which loan option would you recommend?
a.
30 year FHA, 3.5% down at a fixed rate of 6.25%
b.
30 year fixed, 20% down at a fixed rate of 6%
c.
30 year fixed, 10% down at a fixed rate of 6%
d.
15 year fixed, 20% down at a fixed rate 5.5%
Anyone know how to do this and can explain?
Answers: 3
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