Offer either to make a down payment or paying off the final

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You bought a house for $130,000 using a 20 year mortgage at 5.5% interest to be paid monthly. What is your payment? Your parents agree to give you $10,000 toward your home. They offer either to make a down payment or paying off the final $10,000. A. Which do you prefer? B. How much does your payment go down in the better option? C. How much do you save overall?

Reference no: EM13927919

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Offer either to make a down payment or paying off the final : You bought a house for $130,000 using a 20 year mortgage at 5.5% interest to be paid monthly. What is your payment? Your parents agree to give you $10,000 toward your home. They offer either to make a down payment or paying off the final $10,000. A. ..

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