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Need help with amoritzation problem

B

BHeemsoth

Platinum Member
Say I have a loan at 10% interest, for 20 years, 200,000 borrowed, at 5 points, 15% down.

What do I do with the 5 points? Do they just get added to my down payment and take away from the total amount of the loan? Do they decrease the interest rates by 5 points?

Thanks.
 
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