• Mortgage Points: How Do They Work and Should You Buy Them?

    Family with baby in new house
    Apr 13, 2018
    Regardless of whether you’ve ever bought a home, you’re likely well aware that the process involves closing costs – the fees, charges and taxes that buyers and sellers generally incur to complete the transaction, including the transfer of the property. When you apply for a home loan, your lender is required to provide a good faith estimate of your various closing costs within three days. In most cases, you’ll have the option to purchase mortgage points, also known as discount points, in exchange for a reduced interest rate on your loan.