Points
Discount points are prepaid interest, often 1% of the loan per point, paid for a lower rate.
They help only if you keep the loan past the break-even month.
The rate reduction per point comes from the lender.
Discount points are prepaid interest, often 1% of the loan per point, paid for a lower rate.
They help only if you keep the loan past the break-even month.
The rate reduction per point comes from the lender.