Mathematics, 18.12.2020 04:20 gobbler80

Alice is buying a house with 625K. She is making 20% deposit. And get a mortgage on the balance. A bank offers her two options. 1) 30 year term, fixed interest rate 4%.
2) Pay $10,000 upfront fee to buy down the rate. Still 30 year term, but at 3.75%
Explain your reason.

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Alice is buying a house with 625K. She is making 20% deposit. And get a mortgage on the balance. A b...