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Does it make sense for her to pay the point

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Question - Jennifer is working with her mortgage lender on the terms of her new $160000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $566) and 4.25% with one point (monthly payment $552). If Jennifer plans to live in the house for 5 years, does it make sense for her to pay the point?

Reference no: EM133137622

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