The Hidden Truth About Mortgage Points
Автор: The Pomfrey Team
Загружено: 2025-12-22
Просмотров: 120
Описание:
When lenders quote a low mortgage rate, they often mention “points” — but most buyers aren’t told what that really means.
A mortgage point is typically equal to about 1% of your loan amount, paid upfront to reduce your interest rate. While paying points can lower your monthly payment, it also means you’ll need more cash at closing.
For example, if you’re paying two or two-and-a-half points, that’s thousands of dollars out of pocket before you even move in. Many buyers focus only on the interest rate and overlook this cost until it’s too late.
Understanding points helps you:
Compare loan offers correctly
Avoid surprises at closing
Decide whether a lower rate is actually worth it
Mortgage terms matter, and small details can have a big financial impact. Knowing how points work puts you in control of the conversation instead of reacting under pressure.
📌 Follow for clear, honest real estate and mortgage guidance.
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