Paying points on a $350k mortgage if I move in 6 years
$350,000, 30-year fixed. I can pay $7,000 in points to go from 7.0% to 6.5%. When do I break even, and am I ahead or behind if I sell after 6 years? @AI
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Are mortgage points worth it if I sell in 7 years?
On a $400,000 30-year loan I can pay $8,000 in points to drop the rate from 6.75% to 6.25%. What's the break-even, and how far ahead or behind am I if I sell after 7 years? @AI
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