Should I pay cheque points to buy down mortgage rate?
Should I pay points to buy down my mortgage from 5.0%.
They're offering me 4.75 for .5 points, 4.625 for 1pt, or 4.25 for 2pts.
If I have the money, should I choose one of these option? Or should I pay a little more towards down pocket money (I'm already putting down 20%)?
"> no real need to buy down pts unless it affects your dti. do the math on a calc. what little % your discussion about is pennys in difference. its a gamble away of time.
good luck
I'm getting a 4.75 re fi thru Wachovia Bank and paying NO points .
Paying for just a 1/4 to 1/2 % is not worth it as far as I am concerned ....
I hear that the rates might even travel to 4.5 or 4.25 , maybe LOWER within the week .... so again; why buy ... ?
Related Questions:
How do you know where on earth Par is on a Mortgage Rate sheet??
As mentioned, any numbers slightly above 100 or 0 for some lenders. Before you look at those numbers, see if there's any addons for the loan scenarios. par rate in plain English connote ,that this is the rate the...
They're offering me 4.75 for .5 points, 4.625 for 1pt, or 4.25 for 2pts.
If I have the money, should I choose one of these option? Or should I pay a little more towards down pocket money (I'm already putting down 20%)?
"> no real need to buy down pts unless it affects your dti. do the math on a calc. what little % your discussion about is pennys in difference. its a gamble away of time.
good luck
I'm getting a 4.75 re fi thru Wachovia Bank and paying NO points .
Paying for just a 1/4 to 1/2 % is not worth it as far as I am concerned ....
I hear that the rates might even travel to 4.5 or 4.25 , maybe LOWER within the week .... so again; why buy ... ?
Related Questions:
How do you know where on earth Par is on a Mortgage Rate sheet??
As mentioned, any numbers slightly above 100 or 0 for some lenders. Before you look at those numbers, see if there's any addons for the loan scenarios. par rate in plain English connote ,that this is the rate the...