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Two mortgage options are available: a 30-year fixed rate loan at 6% with no discount points, and a 30-year fixed-rate loan at 5.75% with 1
Two mortgage options are available: a 30-year fixed rate loan at 6% with no discount points, and a 30-year fixed-rate loan at 5.75% with 1 discount point. How long do you have to stay in the house for the mortgage with points to be a better option? Assume a $100,000 mortgage.
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