Tip of the Day #7 re: Buying a Home

Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points -- a portion of the interest that you pay at closing -- in exchange for a lower interest rate. If you stay in the house for a long time -- say three to five years or more -- it's usually a better deal to take the points. The lower interest rate will save you more in the long run.

 

Suzanne Prezio

Suzanne Prezio

Licensed Real Estate Salesperson
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