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.

There’s more to home loan rates than interest. We’ll discuss your interest rate, your annual percentage rate, and how discount points affect your payment.

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/...

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.

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.

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 simple act of getting a credit check could potentially lower your score a few points. Losing those few points may not sound like a big problem, but when you’re working hard to improve your credit score, every point matters.

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.

Know Your Mortgage Loan Options. Each loan option is made up of 3 elements: Loan Term. Interest Rate Type. Loan Type. 1. Loan Term. This represents how long you have to repay your loan. The most common loan terms are 30 years and 15 years, but there may be other durations...

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."