The amount of mortgage a person is eligible for will be larger where the vale of the collateral is lower the down payment is low other debt obligations are higher the family's income is lower the interest rates are lower QUESTION 4 Todd Foley is applying for a $100,000 mortgage. He can select either a $595 monthly payment with no points or a 5515 payment with two points. How many this will it take Todd to cover the cost of the discount points if he takes the lower monthly payment? Each point is 1% of mortgage amount Cost of points Break-even months = Montly payment savings 6 months 10 months O 18 months 25 months 48 months