What are Mortgage Points?

What Are Mortgage Points?

What are Mortgage Points?

Mortgage points (also known as discount points) are fees paid directly to the lender at closing in exchange for a reduced interest rate. This is also called “buying down the rate,” which can lower your monthly mortgage payments. One point costs 1 percent of your mortgage amount (or $1,000 for every $100,000). Essentially, you pay

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