Question

30 year mortgage.
the house is selling for $285,500 and has a property tax of $952. isaac has no down payment. his interest rate is 6.25%, pmi is 0.5% and the property insurance is $850 per year. he is getting a 15 year mortgage.
a. brooke
b. isaac

Explanation:

Identify the mortgage term for Isaac

The text states: "He is getting a 15 year mortgage."

Evaluate the options

The header of the problem mentions "30 year mortgage", which likely refers to a different person (e.g., Brooke) in a multi-part scenario. Since the text explicitly states that Isaac is getting a 15-year mortgage, the person associated with the 30-year mortgage is Brooke.

Answer:

• a. Brooke (Correct answer)
• b. Isaac