Discount points: Mortgage points or discount points allow you to pay some of the interest on your loan upfront in exchange for a lower interest rate over the life of your loan. One discount point costs 1% of your mortgage amount.

Buying a Home? We’ll Knock 1% Off Your Rate for a Full Year. Mr. Cooper’s 1% Mortgage Markdown discounts your monthly payment by reducing your interest rate by a full percentage point for one year.* We’re also offering up to $1,500 in credit for a future refinance.** Learn More. Buy/...

We'll discuss the difference between your interest rate and your annual percentage rate (APR) and how discount points affect your monthly payment. If you have specific questions or want to talk to an expert, prequalification is a great place to start.

Here are the key elements included in your monthly statement, along with a visual guide to help you locate them: 1. Statement Information. This is your basic information, like the date your statement was generated, loan number, amount due, and payment due date. 2.

Here are 10 questions to ask as a first time home buyer that will help you navigate the mortgage application process and learn more about everything from interest rates to closing costs.

Important Homepoint Updates. Nationstar Mortgage LLC d/b/a Mr. Cooper (“Mr. Cooper”) has recently acquired Homepoint. For important account information, please refer to your most recent statement or letter (s). It contains the latest servicing information for your account.

The 1.00% discount is on the overall cost of the loan, which can be applied toward buying points to get a lower interest rate. The discount only applies to conforming loans. This includes most loans other than jumbo loans.

If you’ve already found the right home, a Verified Approval is what you’ll want! Learn how much home you can qualify to purchase by getting pre-approved for a mortgage loan.

Review Your Financial Health. Check Your Credit Score. Lenders use your credit score as one factor when determining your loan amount and interest rate. Most use credit reports from the three primary credit bureaus (Experian, Transunion, and Equifax) to evaluate your credit score.

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.