There are a vaniety of financing options to purchase a home. analysis of your findings. Below are several different loans with their respective detail. Answer the following questions and then write an Property Value Increase in rate if 2nd Mortgage used ARM Rato after adjustment S350,000.00 1.50% 2nd Morngage on 15% of property 2 Yoar Interest 5-1 ARM 5-30 3.50% 7-1 ARM 7-30 3.65% 20.00% 4500 1% ty wth Balloon 30 Year Fixed Rate 30 Years 4.25% 15 Year Fixod Rate 15 Years 3.25% value 15 Years 6.50% Tenm Interest Rate Requirod Percent Down Closing costs Origination Points 2-30 5.00% 20.00% 5000 2% 3000 1% 3000 1% 4500 1% 1250 1% 1 What is the monthly payment for each loan? 2 If held until maturity, how much interest will be paid under each scenario? 3 What is the Effective Borrowing Cost (%) for each loan? 4 How much will your balloon payment be for in loan [5]? 5 How much of your payment is interest in the 1st month of the 5th year of option [1]? 6 How much more interest will you pay in option [1] compared to option [21? 7 What is the remaining balance in the 6th month of the 6th year for option [2]? 8 How much will your payment increase in each scenario if you take out a second mortgage? There are a vaniety of financing options to purchase a home. analysis of your findings. Below are several different loans with their respective detail. Answer the following questions and then write an Property Value Increase in rate if 2nd Mortgage used ARM Rato after adjustment S350,000.00 1.50% 2nd Morngage on 15% of property 2 Yoar Interest 5-1 ARM 5-30 3.50% 7-1 ARM 7-30 3.65% 20.00% 4500 1% ty wth Balloon 30 Year Fixed Rate 30 Years 4.25% 15 Year Fixod Rate 15 Years 3.25% value 15 Years 6.50% Tenm Interest Rate Requirod Percent Down Closing costs Origination Points 2-30 5.00% 20.00% 5000 2% 3000 1% 3000 1% 4500 1% 1250 1% 1 What is the monthly payment for each loan? 2 If held until maturity, how much interest will be paid under each scenario? 3 What is the Effective Borrowing Cost (%) for each loan? 4 How much will your balloon payment be for in loan [5]? 5 How much of your payment is interest in the 1st month of the 5th year of option [1]? 6 How much more interest will you pay in option [1] compared to option [21? 7 What is the remaining balance in the 6th month of the 6th year for option [2]? 8 How much will your payment increase in each scenario if you take out a second mortgage