Consider the following pair of mortgage loan options for a 160,000 mortgage Which mortgage loan has the larger total cost ( closing costs + the amount paid for points + total cost of interest ) ? By how much ? Mortgage A 15 - year fixed at 9.25 % with closing costs of $ 1800 and 1 point Mortgage 15 - year fixed at 8.25 % with closing costs of $ 1800 and 2 points Choose the correct answer below , and fill in the answer box to complete your choice . ( Do not round until the final answer . Then round to the nearest dollar as needed . )