Merilande

When you shop for a mortgage, you might hear lenders talk about paying points to lower your interest rate. But is paying points worth it ? Understanding how mortgage points work and how to calculate if a rate buy down makes financial sense can save you money over the life of your loan. This guide will walk you through what a point is, how buying down your mortgage rate affects your monthly payment, and how to figure out the break-even point to decide if this strategy fits you