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Mortgage Points, What are They and How to Calculate
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Want to know more about buying down your mortgage interest rate using mortgage points?
We'll explain what mortgage points are and how they work. We'll show you how they're calculated and what factors to consider. And lastly, we'll help you determine if buying down your interest rate using mortgage points is right for you!
With this comprehensive guide to mortgage points, you'll be able to make an informed decision and potentially save thousands on your home loan!
Thanks for joining in!
In this episode, you’ll also hear:
- An example calculation of mortgage points
- Discount fee, discount point and origination point: are they all the same?
- What is the law of diminishing returns?
Must-listen moments:
[00:02:11] How mortgage points lower your interest rate?
[00:03:05] What are paying points?
[00:04:18] Sample calculation on a $300, 000 loan
[00:06:20] What are the things that you should discuss with your local lender?
[00:06:36] What movement has the interest rate performed over the years?
[00:08:29] Should you buy down the interest rate?
To contact us visit www.loanwithjen.com
Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
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