Part of the home loan process involves making difficult financial decisions that you may not fully understand. A common topic of confusion is mortgage points and how they can affect mortgage rates. This is especially true for first time home buyers who may not have considered this aspect of mortgages.
By buying points on a mortgage, you can get a lower interest rate on the life of your loan. However, not everyone will benefit from the points-buying system. There are several factors that can influence your decision to spend the extra money to lower your mortgage interest rate. (more…)
