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What are points?

Contributions: 2

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I know very little about the process of buying a home or mortgages. I'm am exploring the internet now to learn a little more about it before I go to a banker&a real estate agent. I keep seeing something to do with the mortgages called, "points". Some of them come with points & others don't. What are points?

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January 01 - Rohnert Park

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White Picture
Contributions: 1897

White Picture

Contributions: 1897

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you will get lower interest rate if you paid point fee+buy down interest rate, and got higher interest rate otherwise

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January 02

White Picture
Contributions: 1897

White Picture

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Zillow All-Star

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That is the point fee, and another one is buy down interest rate points, usually from .25% to 2.% of the mortgage .

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January 02

Maria Morton, "MariaMorton"
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Maria Morton, "MariaMorton"

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1% of the purchase price.

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January 02

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What are points?

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Question What are points?

Question How do I find out the appraisal value of a home?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

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Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

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What are points?

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Related Questions

Question What are points?

Question How do I find out the appraisal value of a home?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

Need a Mortgage?

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