You believe that real estate is always going up in value, but you need to stay in the city for at least five more years. You want to make the smallest monthly payments possible, and you don$$t care about the balloon payment as you will sell the house for more anyways. You$$ve saved up $$200,000$ for a deposit.

Which mortgage should you choose to get the lowest monthly payments assuming you have a $$200,000$ deposit?

Mortgage $1-30-$year fixed rate conventional mortgage

Mortgage $2-7/2$ adjustable rate mortgage

Mortgage $3-5/1$ adjustable rate mortgage

Mortgage $4-15-$year fixed rate conventional mortgage

Mortgage $5-10/1$ adjustable rate mortgage

Group of answer choices

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