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Updated over 3 years ago on . Most recent reply

James Harrington's profile image
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James Harrington
  • Member since Jul 18, 2020
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James Harrington's profile image
James Harrington's profile image
James Harrington
  • Member since Jul 18, 2020
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James Harrington
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Mortgage Brokers & Lenders

Mortgage Points Mandatory?

James Harrington
Posted

Hello BP,

I am purchasing a home as an investment property as a new construction. I am getting my loan through the builder (Pulte). They informed me I have to purchase a minimum of three mortgage points. Is that normal?  Everywhere I have read says points are optional.

Also my rate as of Sep 2021 is 3.625% with 3 points - seems awfully high in this market. Thoughts?

*I plan on flipping the house in a year, so preferably would not want any points.

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