Loan Types30 Year Fixed 15 Year Fixed 5 Year ARM (adjustable rate) Interest Only 5 Year ARM
20% down payment
Example: On a $100,000 fixed-rate loan, the lender offers you a 6-percent rate with no points or 5.75 percent with 1 point. It would take 5.2 years to recoup the $1,000 you paid up front to get the lower interest rate.
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