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What are Discount Points or Origination Points
Manage episode 355654459 series 3366757
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In this episode, we'll cover everything you need to know 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 we'll help you determine if buying down your interest rate using mortgage points is right for you! With this guide to mortgage points, you'll be able to make an informed decision and potentially save thousands on your home loan!
In this episode, you’ll learn:
- What is mortgage points
- Common misconception on 1% upfront fee
- Financial implications of buying points
Must-listen moments:
[00:01:00] Basics of mortgage points
[00:02:20] How mortgage points are calculated
[00:03:15] How mortgage points affect interest rates
[00:05:30] Misconceptions about mortgage points
[00:07:45] Financial implications before deciding on mortgage points.
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Loan with Jen was created for buyers and the real estate community to ensure that accurate information is available to everyone in need of financing needs. As a mortgage loan officer since 1995 in the Houston area, we have seen many clients come to us that have been misinformed or misguided. Our goal is to bring you accurate information before purchasing your next home so you can make the best and most informed decisions during the home buying process.
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