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Should you buy Points?


Whether or not paying points makes sense for you depends in part on how long you plan to keep the loan.

1. Calculate the amount of your monthly payment at the interest rate you will be charged if you do not pay points.

2. Calculate the amount of your monthly payment at the lower rate if you do pay points.

3. Deduct the lower payment from the higher payment to find the amount saved each month.

4. Divide the amount charged for points at closing by the monthly amount saved. The result is the number of months you must keep the loan to break-even on paying points.

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CONTACT: Synergy Mortgage, Inc.,
127 Route 94 South, Suite 1, Warwick, NY 10990
Registered Mortgage Broker, New York State Department of Financial Services, All loans arranged with third-party providers
NMLSR: 32146
Phone: (845) 987-1969

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