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Updated about 11 years ago on . Most recent reply

Kalvin C.'s profile image
Kalvin C.'s profile image
Kalvin C.
  • from Fayetteville AR
  • Member since Jan 10, 2014
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Kalvin C.'s profile image
Kalvin C.'s profile image
Kalvin C.
  • from Fayetteville AR
  • Member since Jan 10, 2014
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Kalvin C.
  • Fayetteville AR
5
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Private Lending & Conventional Mortgage Advice

What are "Points"

Kalvin C.
  • Fayetteville AR
Posted

Reading over the forums lately, I have come across several posts that talk about buying "points". I can't seem to grasp what that is, and I've tried using the search function, but no luck. Can anyone explain?

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Kyle J.'s profile image
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Kyle J.
  • Rental Property Investor
  • from Northern, CA
  • Member since Jun 14, 2012
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Kyle J.'s profile image
Kyle J.'s profile image
Kyle J.
  • Rental Property Investor
  • from Northern, CA
  • Member since Jun 14, 2012
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Kyle J.
  • Rental Property Investor
  • Northern, CA
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Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied

A "point" equals one percentage of the loan amount. (Example: Two points on a $100,000 loan would be $2,000.)

Here's some more reading if you'd like to learn more: http://www.realtor.com/home-finance/homebuyer-information/understanding-mortgage-loan-points.aspx?source=web

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