What are points on a mortgage?
- Seattle, Portland, San Francisco
- 2022/12/02
Discount points are a way for borrowers to reduce the interest rate they will pay on a mortgage. By buying points, you’re basically prepaying some of the interest the bank charges on the loan. In return for prepaying, you get a lower interest rate. This can lead to a lower monthly payment and savings on the overall cost of the loan over its full term.
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