What Are Points?

Posted on Posted in Home Buyer Guide

 

Points are mortgage interest fees paid up front. This one-time fee reduces the initial interest rate on your home loan. Points are a percentage of your loan amount, with one point being equal to one percent of your loan. If you are purchasing a home, the amount of your points is generally deductible in the year you buy. This is true even if the seller is paying for them. Keep this in mind while buying a new home.

 

 

 

 

 

 

 

 

 

 

East Side Real Estate

Specializing in: East Side Real Estate financing, Barrington financing, Boston Condo lending, Luxury Condo lending, Doctor Loans, Brown University Employee mortgages, and Providence condos.

Boston Condos

Specializing in Boston Condos, Luxury Condos, Boston Luxury Properties, Boston Real Estate and Providence Residential Property Lending