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In this case,you are buying a house and your mortgage company/bank offers to let you buy a point (1% of the loan amount) to reduce

In this case,you are buying a house and your mortgage company/bank offers to let you buy a "point" (1% of the loan amount) to reduce your APR from 6.5% to 6.25% on your $400,000, 30-year mortgage.

Explain whenyouwould/shouldbuy the point and whenyouwould/should notbuy the point for the three scenarios belowif:

B)You plan to be in the house for 5-15years?

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