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You are purchasing a business building valued at $245,000. You can find a mortgage at 6.5% if you can put 15.4% down.

You are purchasing a business building valued at $245,000. You can find a mortgage at 6.5% if you can put 15.4% down. You believe your business can support a $1,350 a month mortgage payment (not including taxes and insurance). Should you select a 25 year mortgage or a 30 year mortgage? Tell your reasons.

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encase I was to do a 25 year mortgage, the payments would appear as : 245000(15.4%)=37730 245000-37730=207270... View the full answer

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