A home purchaser need to borrow $300,000 to finance their new home. The buyer believes they will live in the house for approximately 6 years. The buyer is offered two mortgage options. The first loan is at a rate of 2.875% with the payment of $245 in points. The second loan is at a rate of 2.5% with the payment of $5747 in points. Both loans are 30 year fully amortizing loans with monthly payments. What is the payment on the first loan? Multiple Choice $1244.68 $1833.35 $2476.23 $1500.00