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How long would financial planner recommend

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Problem 1: Esther is considering purchasing a new home for $400,000. She intends to put 20% down and finance $320,000 but is unsure which financing option to select. Esther is considering the following options: - Option 1: Fixed rate mortgage over 30 years at 6% interest, zero points, or - Option 2: Fixed rate mortgage over 30 years at 4% interest, plus two discount points. How long would her financial planner recommend that she live in the house to break even using Option 2 presuming she is not financing the points?

Reference no: EM132990145

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