Mathematics, 05.03.2021 22:50 ethancarter560

Jacqueline is deciding between two mortgages for her new home. The first mortgage is an 80/20 mortgage with interest rates of 4.75 and 7.525%, respectively. The second mortgage is a 30-year mortgage with a 5.25% and a $58.30 monthly PMI. If the house price is $145,000, which mortgage payment will be lower initially, and by how much? A.
30-year mortgage by $49.93

B.
80/20 mortgage by $41.34

C.
30-year mortgage by $33.56

D.
80/20 mortgage by $50.62

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Jacqueline is deciding between two mortgages for her new home. The first mortgage is an 80/20 mortga...