Not stoked about the interest rate for you mortgage to purchase your home? Did you know you may be able to purchase a lower interest rate using discount points? My buddy Chris Boston took some time to chat with me about discount points… You may want to check it out.
What are Discount Points?
Discount points are part of the closing costs. They are percentage points in which borrowers can pay additional funds up front to buy down the interest rate. And the discount point can range between .125 percent all the way up to whatever number. But easiest money that the borrow pay in addition to the other closing cost, directly towards buying down the premium.
Do you have to pay discount points?
You don’t have to it. It’s just if you wanna lower interest rates.