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Buy Points Lower Mortgage Interest Rate |
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Should I Buy Points to Lower My Mortgage Interest Rate - Always ask yourself if you are better off paying a higher interest rate instead of purchasing points in order to lower the mortgage interest rates.. Which is the best decision.
Most fixed-rate mortgages allow borrowers to pay an upfront fee, or points, in exchange for a more favorable mortgage rate. Buyers who purchase points can default, move or refinance more than three years before reaching the break-even point from purchasing points. Your break even point is termined by how many years you live in the home or refinance the current mortgage.
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