please answer all questions ASAP

Find an ad for a house online priced $120,000 - $250,000 Your Loan will be for $100,000 Hand-in the above information to me (Due June 27th at Blackboard -through ICC) Typed-up in the following format: Your Name: Price of House: Location of House: Where you found the ad (web address): Down payment amount (list price - 100,000): Loan Amount: Use $100,000 for the table below Loan 15 Year at 3% 30 Year at 3.15% 30 Year at 6% Monthly Payment Total Interest $ Amount Item Interest saved with an extra $100/month paid on principle for 30 yr loan at 3.15% - look up online prepayment calculator Approximate Property Taxes (use 2% of the list price) Cost of 1 Point for the loan above 1. What is an ARM loan? 2. Why would someone choose an ARM over a fixed rate loan? 3. What do closing costs typically include (be specific)? 4. How much are closing costs (can be given as a general %)? 5. What does Homeowner's insurance cover (be specific)? 6. Approx how much would Homeowner's insurance cost for your house? 7. What is Private Mortgage Insurance (PMI)? 8. Thoughts on the project (at least two sentences) 9. Thoughts on saving potential (mention down payment amount paying extra, and percentage)