Question
you are considering the purchase of a $140,000 home and making a 20% down payment. You can obtain a 15 year mortgage at 6.50%, but
you are considering the purchase of a $140,000 home and making a 20% down payment. You can obtain a 15 year mortgage at 6.50%, but you can get a 5.85% rate by paying 2 discount points.
1.What are your monthly payments if you do NOT pay the points?'
2. Assuming payments are reinvested, what is the breakeven in months?
3.What are your monthly payments if you pay the points?
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Handbook Of Research On Theory And Practice Of Financial Crimes
Authors: Abdul Rafay
1st Edition
1799855678, 978-1799855675
