Real estate blog entries tagged with mortgages by a a

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Home : Blogs : a a : Ethan's Blog : Tag "mortgages"

mortgages: When is it good to pay discount points? - 05/28/07 07:25 PM

As rates slowly rise with inflation, buyers will be looking for more options to purchase the home they want. While there are other products, one of the simplest and safest options is paying points. Discount points are fees paid to the lender at closing to permanently pay down the interest rate of the loan (this is not a buy down). Each "point" is equal to 1% of the loan amount. For example on a $200,000 loan, a point would equal $2,000. The amount of interest rate discount depends on the loan product, but it can reduce the rate from a quarter … (6 comments)

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