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Points
#1
What do points mean?

Www://tassapat.com
 
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#2
1 point is equivalent to 1.0% of the mortgage loan. Mortgage loan borrowers can pay points in order to buy down the mortgage rates. Sometimes it is beneficial for a mortgage loan borrower to pay points to get a lower mortgage rate if they are intending on staying at their homes for a long time. If a homeowner is planning on selling their home in the near future, it may not be wise to pay points for a lower interest rate. You can use sellers concession credits to buy down mortgage rates by paying points. Here is an article on buying down rates by paying points.

http://gustancho.com/buying-mortgage-rat...ng-points/

 
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