What are points when refinancing?

Answer Lenders give borrowers the option to purchase points when refinancing their home. The points are a fee used to "buy down," or purchase a lower interest rate than the rate offered for free.Significa... Read More »

Top Q&A For: What are points when refinancing

Points to Consider When Refinancing?

Refinancing is a process where a borrower allows a lender to buy out an existing loan and agrees to accept a new loan with different terms. Mortgages are a common type of loan to refinance, but it ... Read More »

How are points determined in refinancing a home?

When you refinance your mortgage, the lender may charge points, a cost expressed as a percentage of the loan. Points take into consideration the interest rate and how long you remain in the home af... Read More »

When refinancing a mortgage what charges are considered points for tax purposes?

Points that you pay as part of the closing costs of your mortgage represent fees to reduce the interest rate on your home and may allow you to take claim a deduction on your income taxes. However, ... Read More »

How to Claim Points Paid for Refinancing a Mortgage on Your Income Tax?

When you take out a mortgage or refinance your mortgage, your lender typically gives you the option of paying discount points, which represent an upfront cost paid to lower the interest interest ra... Read More »