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Consider the following pair of mortgage loan options for a $135,000 mortgage. Which mortgage loan has the larger total cost (closing costs + the amount

Consider the following pair of mortgage loan options for a $135,000 mortgage.

Which mortgage loan has the larger total cost (closing costs + the amount paid for points + total cost of interest)? By how much?

Mortgage A: 30-year fixed at 6.25% with closing costs of $2400 and 1 point.

Mortgage B: 30-year fixed at 5.25% with closing costs of $2400 and 4 points.

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