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Posted on May 19, 2024

My current mortgage interest rate is 7 . 0 0 0 % , I can get a new interest rate of 5 . 2 5

My current mortgage interest rate is

7.000 %,

I can get a new interest rate of

5.250 %

for $

6, 375

in closing costs. My current payment is $

2, 495,

my new payment is $

2, 106,

what is my break even in months to cover my closing costs?

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