What do points mean in home loans?

Answer When a homeowner purchases a mortgage, he has the option of purchasing "points" or paying a fee to purchase or "buy down" to a lower interest rate than originally offered by his lender.Significance... Read More »

Top Q&A For: What do points mean in home loans

What are points on home equity loans?

A point on a home equity loan, or any type of mortgage debt, is a set amount of money paid to purchase a lower interest rate. Paying a point is sometimes optional for the borrower, depending upon t... Read More »

Is there a way to get points/miles for repaying student loans?

Hi good question,Citibank checking, online bill paying and credit cards earn "Thank You Points" which can be redeemed for payments of your student loans. So, if you pay your student loan online wi... Read More »

What Is an APR on Home Loans?

The APR, or annual percentage rate, on a home loan is the numerical representation of the combined monthly interest rate and all of the fees associated with the loan. All lenders are required to us... Read More »

What are home loans?

A home loan uses your house as collateral in case you default on the loan, which makes the loan less risky for the lender and results in a lower interest rate. Types of home loans include mortgages... Read More »