Mortgage points, or discount points, are an extra fee that you can pay in exchange for a lower interest rate. Homeowners who plan on keeping a house for a longer period might choose to buy points because the lower rate will save money in the long term.

Discount points,* or mortgage points, are mortgage terms to know if you want to reduce your interest rate. They are a type of prepaid interest or fee borrowers pay for a lower interest rate.

Discount points,* or mortgage points, are mortgage terms to know if you want to reduce your interest rate. They are a type of prepaid interest or fee borrowers pay for a lower interest rate. One discount point will typically cost you 1% of your loan amount and reduce a borrower’s r...

DISCOUNT POINTS You may have the option of paying "discount points" at closing. Why on earth would you do this? Because paying discount points means getting a lower rate on your loan. This is also known as "buying down the rate."

Mortgage points, or discount points, are an extra fee that you can pay in exchange for a lower interest rate. Homeowners who plan on keeping a house for a longer period might choose to buy points because the lower rate will save money in the long term.

* The Friends and Family Discount is 1.00% off the cost of a home loan, and an additional $650 off the origination fee. 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 confor...

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. Explanation of Amou...

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Fortunately, there is a way that creditors can minimize the number of credit checks potential borrowers must submit to: the soft credit check. Creditors insist on checking your credit before issuing loans (it’s nothing personal). They simply want to assess the risk involved in ...

Searching for your dream home? Curious about different types of home loans? Ready to apply for a loan? No matter where you are on your homeowner’s journey, our seasoned professionals are standing by to share tips and strategies for your success. How Can We Help? A fixed-rate home loa...