Asked by Estherk, • Thu Jul 31, 2008
I've been playing with bankrate.com's calculators, and my impressions are that:
1) if I'm paying the points out of pocket, I would recoup the cost in 3-5 years in lower interest payments
2) if I finance the points (fold it into my loan), the points become tax deductible
3) the tax savings make points a worthwhile decision
Bearing in mind that I'm still learning, I just wanted to check the veracity of my conclusions.
And finally, did you pay points for your own house, for the realtors and mortgage brokers/loan officers out there?
Real Estate in Shakopee
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