Johnny and his wife want to purchase a home. They found one online for 194,900 and he learned some info about the current mortgage rates. The loan officer indicated that he would need to pay a 15% down payment and 2 points at closing. Johnny wants to finance the home for 30 years with a fixed interested mortgage. How would I calculate the down payment, mortgage amount, points amount, monthly payment, total paid for house and interest paid?
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