1. You can afford to pay up to $4,000 in payments every month for housing. Which of the following mortgages would allow you to buy the most expensive property? (Assume you can afford the down-payment in any of these scenarios.)

   		A 30-year fully amortizing FRM with 5% contract interest rate and 85% LTV.
   		A 25 year FRM with 3% contract interest rate and 90% LTV
   		A 30 year mortgage with an interest only period of 5 years at a fixed contract rate 4% and 95% LTV.