Investments Inc. is planning to buy and develop the Rufus M. Rose house located in the SoNo neighborhood of Atlanta. It is a Victorian style house built in 1901 and is the last residence in the neighborhood. Ben Mays, the chairman, believes the house can be developed into apartments for the local doctors and medical professionals who work across the street at Emory University Hospital Midtown, the former Crawford Long Hospital. The current asking price for the house is $1.25 million and he expects to put 25 % in a down payment for a 30 year loan. He assumes he would need to pay an extra 18% of the monthly payment per month to cover taxes and insurance. Mays is considering whether this is a good investment to make. From investigating various lending options, he believes the annual interest rate on his loan could be 4.85 %, 5 % , or 5.15 %! Investments Inc. is planning to buy and develop the Rufus M. Rose house located in the SoNo neighborhood of Atlanta. It is a Victorian style house built in 1901 and is the last residence in the neighborhood. Ben Mays, the chairman, believes the house can be developed into apartments for the local doctors and medical professionals who work across the street at Emory University Hospital Midtown, the former Crawford Long Hospital. The current asking price for the house is $1.25 million and he expects to put 25 % in a down payment for a 30 year loan. He assumes he would need to pay an extra 18% of the monthly payment per month to cover taxes and insurance. Mays is considering whether this is a good investment to make. From investigating various lending options, he believes the annual interest rate on his loan could be 4.85 %, 5 % , or 5.15 %