Mr. and mrs. chavez close on a 30 year home loan for $250,000. the monthly payment with no points is $1,580, but if they buy a point it is $1,560. what might you infer if mr. and mrs. chavez choose not to buy a point
The Chavez family has two options when applying a house loan for 30 years which is amounting to $250,000. First, the will not take the points with a monthly payment of $1580 while if they take the points, they will have a monthly payment of $1560. What they did was they did not buy the points and the reason for this was they are planning to sell the house after 5 years.
