Purchase price of a home is $300,000. Taxes on the home run $3.00 per $100 of assessed value of the home. For new homes the assessed value is equal to 75% of purchase price. Insurance is half of one percent of purchase price. Adjustable Rate Mortgage requires 10% down--conventional loans require 20% down. Using the current rate of 4.5% at 30 years what is the mortgage for the conventional loan. Using the current ARM rates for the Adjustable Rate Mortgage. What the monthly cost including interest, taxes, insurance. What will be down payment? What will be their principal and interest per month. What is the total monthly payment including everything?