Every step must be shown and CLEARLY LABELED. That is, if you are computing the monthly mortgage amount, you must label that section: Monthly mortgage. And each step of the process must be clear. If it is not labeled, then you may not get credit. And you must write a SHORT analysis of their finances in order to justify whether the family should take the trip or not. 9. Two years ago, The Alvarezs spent $248,000 on a house with a 30 year mortgage. They put 20% down on the house. They paid 1.5 points (each point means 1 % of the loan) on the loan for the finance charges. The other loan costs totaled to $2,800 dollars. All of the subsidiary costs are rolled into the final loan amount (that is, the amount after the 20% has been deducted). Their mortgage rate was 3.75%. They pay $1900/year in property taxes and $1,800 per year in homeowners insurance.