Jerome currently lives in an apartment by himself. He pays $815 per month in rent which includes all utilities. Jerome's friend recently purchased a house and wants Jerome to move in with him. If he does so, they would split the mortgage payment and all utilities. His friends monthly mortgage payment is $1,250 and utilities are an additional $275 per month. Calculate what Jerome's new monthly cost would be if he moves into the house. After one year, how much would Jerome save or lose?