Mortgage points: what are they and should you buy them?

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Coralie Jacobson asked a question: Mortgage points: what are they and should you buy them?
Asked By: Coralie Jacobson
Date created: Sun, Mar 28, 2021 10:18 AM
Date updated: Mon, Sep 26, 2022 4:20 AM

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Top best answers to the question «Mortgage points: what are they and should you buy them»

Discount points are mortgage points that you purchase to get a lower interest rate on your loan. Each point costs 1% of the loan amount, and you pay the fee with your closing costs. Buying points can save you money overall because your monthly payment and interest costs will decrease.

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