{"id":20421,"date":"2019-02-12T14:00:36","date_gmt":"2019-02-12T20:00:36","guid":{"rendered":"https:\/\/www.pintailcos.com\/whats-the-point-of-mortgage-points\/"},"modified":"2019-02-12T14:00:36","modified_gmt":"2019-02-12T20:00:36","slug":"whats-the-point-of-mortgage-points","status":"publish","type":"post","link":"https:\/\/pintailcos.com\/web\/whats-the-point-of-mortgage-points\/","title":{"rendered":"What\u2019s the Point of Mortgage Points?"},"content":{"rendered":"If you\u2019re financing a property purchase, you\u2019ve probably come across the term\u00a0points\u00a0or\u00a0discount points. Although there are other meanings, most often these terms refer to prepaid interest, with one point equal to 1% of your mortgage loan.\nLenders offer borrowers the opportunity to purchase points on their mortgage, which means you\u2019re paying up front to lower the interest rate of your loan. Here are some questions to ask when deciding whether you should buy points.\nHow long will you live in the house?\nYou usually benefit more from points the longer you stay in the property. That\u2019s because the savings you realize on each monthly payment will accumulate and eventually offset\u2014hopefully exceed\u2014your points payment.\nCan you afford points?\nYou need to provide a downpayment and cover the closing costs to secure a mortgage. Do you also want to pay for points?\u00a0\nHow much will the rate come down?\nEach point costs 1% of the loan amount, but the interest-rate reduction you receive varies from lender to lender.\nNeed more information? Your Texas REALTOR\u00ae can help you find experts on the topic.","protected":false},"excerpt":{"rendered":"

If you\u2019re financing a property purchase, you\u2019ve probably come across the term\u00a0points\u00a0or\u00a0discount points. Although there are other meanings, most often these terms refer to prepaid interest, with one point equal to 1% of your mortgage loan. Lenders offer borrowers the opportunity to purchase points on their mortgage, which means you\u2019re paying up front to lower […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[108],"tags":[],"class_list":["post-20421","post","type-post","status-publish","format-standard","hentry","category-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t