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Updated over 5 years ago on . Most recent reply

Juan Carlos Garcia's profile image
Juan Carlos Garcia's profile image
Juan Carlos Garcia
  • Rental Property Investor
  • from Eastvale, CA
  • Member since Mar 12, 2019
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Juan Carlos Garcia's profile image
Juan Carlos Garcia's profile image
Juan Carlos Garcia
  • Rental Property Investor
  • from Eastvale, CA
  • Member since Mar 12, 2019
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Juan Carlos Garcia
  • Rental Property Investor
  • Eastvale, CA
2
Votes |
8
Posts
Private Lending & Conventional Mortgage Advice

Buying points for better rate

Juan Carlos Garcia
  • Rental Property Investor
  • Eastvale, CA
Posted

Hello

Is it worth buying points to bring you rate down? So I’m in the of buying points to bring my rate down but not sure if I’m making a wise decision. I need to spend 7k to go as low as 3.25% but $7k is a bit a lot of money to buy points. What do you guys think I should do

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Christopher Giannino's profile image
Christopher Giannino's profile image
Christopher Giannino
  • Real Estate Agent
  • from Hamilton, NJ
  • Member since Dec 27, 2013
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Christopher Giannino's profile image
Christopher Giannino's profile image
Christopher Giannino
  • Real Estate Agent
  • from Hamilton, NJ
  • Member since Dec 27, 2013
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Christopher Giannino
  • Real Estate Agent
  • Hamilton, NJ
311
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464
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Christopher Giannino
  • Real Estate Agent
  • Hamilton, NJ
Replied

You can do a calculation on how many months it will take you to finally benefit from putting down $7k extra.  Just out of curiosity, what is your reason for wanting to buy down the rate?

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