Should I pay points to lower the rate?
Should I pay points to lower the rate?
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Paying discount points will lower your interest rate

Paying discount points will lower your interest rate (as well as your monthly payment) over the life of the loan. When you pay a discount point, you are essentially paying part of your interest to the lender up front. There is no requirement to pay discount points; whether or not you decide to pay points is completely up to you.

 

When using the calculators, please keep in mind that the results of any loan calculator computations are not intended to be and should not be considered a decision of, or a commitment to, the loan type or amount for which you may qualify

Note: Please review your options with your loan officer to confirm the validity of these projections. To learn more about the mortgage process or for information regarding rates, preapproval or how to start the application process, contact us at 1-800-873-6577.

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Rates shown not available in all states. Rates are representative and rounded to nearest point. Actual rates may vary.
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