You got a $500,000 mortgage for your new home. This is a 30- year fixed rate constant

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You got a $500,000 mortgage for your new home. This is a 30- year fixed rate constant amortization mortgage with the rate at 8.00 %. You can pay 1.5 point to lower your mortgage rate to 7%. How long should you keep the house to make the point payment break even?

Posted Date: May 13, 2024 02:25 AM

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You got a $500,000 mortgage for your new home. This is a 30- year fixed rate constant

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To determine how long you need to keep the house to make the point payment break even we need to cal... View the full answer

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