What Are Mortgage Points?

newsfeedback@fool.com (Kailey Fralick), The Motley Fool
Mon, 08/27/2018 - 4:18pm

If you find mortgages confusing, you're not alone. There are a lot of numbers to compare -- loan terms, interest rates, down payments, closing costs, and more. And then there are mortgage points. Not every mortgage offers them, and they can either help or hurt you depending on how long you plan to stay in the home and how much you can afford for a down payment.Here's a brief overview of how mortgage points work and when it may and may not be a good idea to pay them.Image source: Getty Images.Continue reading

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Topics:  images   mortgage points   
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