I’ll keep it short-ish and to the point.
Wife and I have been in our home 4+ years.
Have a 3.75ish rate @ 30 years.
Owe 211,000
Valued at 300,000 when purchased.
We are looking at shrinking to a 15 or 20 year.
15 year mortgage at 2.75% is going to be roughly 1431 a month.
Is it worth it to buy a point ($2,100) for a 2.5% rate?
My math shows it paying for itself in roughly 84 months.
And I’ve seen nothing that adversely affects taxes.
SVT Mortgage Gurus?
Edit: Or maybe I have no clue what points even are.
Wife and I have been in our home 4+ years.
Have a 3.75ish rate @ 30 years.
Owe 211,000
Valued at 300,000 when purchased.
We are looking at shrinking to a 15 or 20 year.
15 year mortgage at 2.75% is going to be roughly 1431 a month.
Is it worth it to buy a point ($2,100) for a 2.5% rate?
My math shows it paying for itself in roughly 84 months.
And I’ve seen nothing that adversely affects taxes.
SVT Mortgage Gurus?
Edit: Or maybe I have no clue what points even are.
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