Are mortgage points good or bad?

Answer On One Hand: A Lower Rate Helps the BorrowerPoints are a fee charged to a borrower to purchase an interest rate lower than the current rate offered. These points allow a borrower to be "in charge" ... Read More »

Top Q&A For: Are mortgage points good or bad

How are points determined in a mortgage?

A point is a loan discount fee, paid by the home buyer to the lender at closing, or settlement, of a real estate transaction. The various combinations of interest rates and points are set by the le... Read More »

Explanation of Mortgage Points?

When you are closing on your mortgage, you may not want to consider any additional costs. However, your lender may offer you the ability to pay for additional points, known as discount points, to l... Read More »

Mortgage Points Pros and Cons?

There are two different types of mortgage points: origination and discount points. The origination point is the fee paid to the lender for completing the mortgage loan. In most cases, this point is... Read More »

Are mortgage refinance points tax deductible?

On One Hand: Only If You ItemizeIf you choose to itemize your tax deductions, you can write off the cost of discount points on your mortgage refinance over the life of the loan. Record the deductio... Read More »