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You are applying for a 30 year mortgage for the sum of $400,000. The lending bank gives you two options: a.Option #1.2.75% annual interest rate

You are applying for a 30 year mortgage for the sum of $400,000. The lending bank gives you two options:

a.Option #1.2.75% annual interest rate with no upfront points.

b.Option #2.2.50% annual interest rate with 1 point charged upfront.

Which option will you choose?

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