Real estate blog entries tagged with no down payment by Benchmark Mortgage of Louisiana

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Home : Blogs : Gareth Bourriague - Benchmark Mortgage : Benchmark Mortgage - Blog : Tag "no down payment"

no down payment: To Pay Points Or Not To Pay Points - That Is The Question! - 08/30/07 01:47 PM

How do you "buy" a better rate? Great question - let me tell you.
A point -- which equals 1% of the total loan amount -- is an up-front fee that lowers your annual interest rate and total interest due over the life of your loan. So, a one point loan will have a lower interest rate than a no point loan. Basically, when you pay points you trade off paying money later in favor of paying money now. You can pay fractions of points also, meaning you can paying 1.5% to get a lower rate than if you paid 1%.
Several major … (6 comments)

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Gareth Bourriague - Benchmark Mortgage

Baton Rouge, LA

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