Saturday, February 8, 2020
What Are Mortgage Points
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.
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...