Question You are going to purchase a house and the bank is willing to loan you $175,000. You plan on paying a downpayment of 20% of the purchase price on this home that you plan on living in for the next 3 years. The bank is offering you two different loan options: Option 1: 4% interest for 30 years 0 points Option 2: 2.75% interest for 30 years 4 points What is your break even between the two loans? 62.59 months 51.60 years 62.59 years Question You are going to purchase a house and the bank is willing to loan you $175,000. You plan on paying a downpayment of 20% of the purchase price on this home that you plan on living in for the next 3 years. The bank is offering you two different loan options: Option 1: 4% interest for 30 years 0 points Option 2: 2.75% interest for 30 years 4 points What is your break even between the two loans? 62.59 months 51.60 years 62.59 years