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Pros and cons of fixed and adjustable rate loans

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Reference no: EM131610936

Your bank is offering 5.5% fixed-rate mortgage, requiring a down payment equal to 10% of the home's purchase price. The lender estimates that closing costs should equal $750 plus three points. How much will closing costs be on a $200,000 home?

What are the pros and cons of fixed and adjustable rate loans?

Reference no: EM131610936

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