Reply to the following using at least 175 words. Be constructive and professional. Be sure to include FULL APA references and in-text citations.
1. Lamar Lacey is trying to decide which mortgage is best for him. He needs to finance $167,000 and has planned a budget of $1,000 for his payment of principal and interest. His choices are a 30-year mortgage at 5.75% interest or a 25-year mortgage at 5.5% interest. What are some other factors besides just staying within the planned budget that might be considered in making the decision about which mortgage to choose?
