Posts Tagged ‘buy down your rate’

What are Discount Mortgage Points and Should I Buy Them?

April 4, 2008

Discount mortgage points (or points, for short) are simply interest you can choose to pay up-front when you get your mortgage. One point equals one percent of your overall loan balance. By paying some interest up front, you get a lower interest rate for the life of the loan — this is also known as “buying down your rate.” [...]

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