Paying mortgage origination points
Q: Should you pay mortgage points? There are many sites and books showing you complicated calculations, helping to decide on, should you pay or not? I have seen many publications advocating paying mortgage points for a slightly lower interest rate.
A: You shouldn't, it is a rip off. It takes a long time to recover the cost of a single mortgage point, never mind two or three. Unless your credit is very bad, even then, you can always try finding someone who wouldn't charge you. I am not even going to show any numbers as I normally do. Why? Just trust me on this one.
Wed Dec 6, 2006 05:12PM by Tony | More in Mortgage | Comments (0)
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