20 vs 25 year amortization
I'm in the process of purchasing a 20 unit complex. The bank has given me 2 choices. Option 1 is a 20 year amortization 4.8% vs a 25 year amort @ 4.99% (both with a term of 7 years). The payment would be $7,624.87/month for option 1 and $6,832.89 for option 2.
Which would you go with, and why?