A buy down as suggested, or funny trade numbers differences.
In anything we sign, the large print seems to give, but the small print sometime on the back takes it all away.
Best would be to look at the two choices, with what you are borrowing, and the total of the payments you will make.
Also, down load the phone app, AppBox. It has a Loan app. and it allows you to insert, into two side by side columns, each loan. So, amount, term, annual interest rate, start date. You will then see, monthly payment, monthly ave. interest, total interest, and total you will pay. With the app, you can figure you costs, from your side of the sales desk, and you can walk out the door. Most loans are simply interest, where the amortization table will show you the breakdown each month. The loan app, has a % amortization table as well.
I just in less than a minute did, $150K, 10 years, the two % rates, and see, you pay $14,819.34, or $32,241.25 in interest. Change to 15 years, and you pay, either $22,506.86 or $49,715.74. Easy.
Dave and Dolly
1998, 36' Foretravel, U295, rare mid door
2001 Jeep Grand Cherokee