Mortgage points, aka discount points, are fees paid to a lender at closing in exchange for a reduced interest rate.
Also known as “buying down the rate,” which can lower your mortgage payment. One point costs 1 percent of your mortgage amount (or $1,000 for every $100,000).
Paying points to get a lower rate on a mortgage is often a losing proposition. Homeowners who do not stay in their homes long enough to recoup the up-front cost of paying points are on the losing end of this proposition.
You can and should review this with your real estate and your mortgage professional.

San Antonio Homes Blog *** Al Cannistra, REALTOR *** Licensed Since 2005 *** Texas Premier Realty *** Direct: 210-757-0211 ________________________________________________________________________________________________________ Find information about buying and selling homes in the San Antonio area. We specialize in new homes, new construction, builder homes, first time buyers, relocation, military and seniors. For Homes for Sale in San Antonio - www.SanAntonio.Homes
Subscribe to:
Post Comments (Atom)
Welcome
Welcome Please Read
Welcome to our newest blog. We are trying out a new design concept - see if you like itl As required by TREC, we have provided informat...

No comments:
Post a Comment