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My spouse and I are in a process of buying a $275,...




My spouse and I are in a process of buying a $275,000 home with a $55,000 cash down and the following options have been presented to us: -30 year loan @ 10% without any points or 7% with three points paid up front. Which one is better? Why? -What will be additional monthly payment of $100 do do the term of our loan and how much would we save with the option in one above, over the life of the loan (provide the total cash outlay for each scenerio in the amortization format) -How much would we have to pay monthly in each option in one to pay the loan off in 15 years reather than 30. Amortizarion table: Mortgage $220,000 Price $275,000 Rate 7% $Down $55,000 Rerm years 30 -Please provide us the loan amortization schedule and proffesional letter regurding your findings. -professionally present your letter and supporting documents. -Prepare summery "top-level" grid schedule,can you please answer me at


Paper#6056 | Written in 18-Jul-2015

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