You need a loan of ​$175,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices.   Choice​ 1: 30​-year fixed rate at 7​% with closing costs of ​$1400 and no points. Choice​ 2: 30​-year fixed rate at 6.5​% with closing costs of ​$1400 and 2 points.   What is the monthly payment for choice 1?  What is the monthy Payment for choice 2?  What is the closing paymennt for choice 1?  What is the closing paymennt for choice 2?

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Factors Affecting Housing Decision