You want to purchase a $300,000 home. You need a loan, but you have cash of $50,000. You use that money as a down payment to reduce your loan value. If you wanted to purchase four mortgage points, how much additional money would you need to pay for the mortgage points? $3,000$10,000$3,500$12,000$14,000$2,500 QUESTION 5 You want to buy a home that is worth $300,000, but because you know the seller, they are only charging you $280,000. You can put $30,000 cash down. If the APR is 5%, and the loan term is 15 years, how much is the monthly payment? $1,977$2,372$2,610$2,214$2,451