One point on a $300,000 loan costs $3,000 today and buys a lower rate — a smaller payment every month, for a fee paid once. Divide the $3,000 by the monthly saving and you get the break-even.
money
One point on a $300,000 loan costs $3,000 today and buys a lower rate — a smaller payment every month, for a fee paid once. Divide the $3,000 by the monthly saving and you get the break-even.
The rest of this one is in Curio Pro.
Source: consumerfinance.gov
Read the rest in CurioMystery, Smart Money and Startup Lessons are part of Curio Pro.