mortgage offer 1: great bank offers a fixed rate of 6.25% on a 20-year loan, with closing costs of $6500 plus 2 points. they require a minimum of 10% down payment. the document fee, home inspection, and appraisal are $2000 total. mortgage offer 2: smallville credit union offers a fixed rate of 5.75% on a 30-year loan, but with $8000 closing costs and no points. there is a $600 documentation fee and credit check. the home inspection and appraisal are $500 and $495 respectively. a minimum of 15% down payment is required.