Determining what to do on mortgage (rate lock)

[James Edwards]

Curious how everyone approaches the aspect of buying points, bigger down, or standard rate etc. 

Looking at a mortgage around 5% int, could get it down to 4% ish with $4k in points. 

My other choice is to leave it at the higher rate and do nothing, or perhaps take the money I would spend on points and make a large upfront principal payment. 

Any thoughts on how one would evaluate that?