03-18-2003, 08:05 PM
Quote:Quote:what do points do?Points are a percentage of the purchase price of your home, such as 1% or 2%. Paying these up front fees can allow you to get a lower mortgage rate than you would by paying 0 points. The rationale behind it is that by paying this up front charge, you will save considerably more in interest payments over the lifetime of the mortgage.
Points are bad, noone should have to deal with points, especially with these low rates.