Should you select a 25-year mortgage or a 30-year mortgage


You are purchasing a business building valued at $385,000. You can find a 30-year mortgage at 4.52%, or a 25-year mortgage at 4.2%, if you can put 16% down. You believe your business can support a $1,700 a month mortgage payment (not including taxes and insurance). Should you select a 25-year mortgage or a 30-year mortgage? Please explain your reasoning.

Solution Preview :

Prepared by a verified Expert
Mathematics: Should you select a 25-year mortgage or a 30-year mortgage
Reference No:- TGS02820977

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)