Posted on: 19th Sep, 2009 10:57 am
What are Mortgage Points, How They Work, and How Refinancing Affects Them?
You pay points to lower your interest.
WHn you get a mortgage and yoru interest rate offered is 5.25% and you want it to be lowered you cna do ti by paying points. So paying 1 points ( Equal to 1% of the loan) will lower your interest by 0.25% typically
WHn you get a mortgage and yoru interest rate offered is 5.25% and you want it to be lowered you cna do ti by paying points. So paying 1 points ( Equal to 1% of the loan) will lower your interest by 0.25% typically