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Tuesday, June 27, 2006


One percent of the total loan amount

Loan rate points can be either positive (discount points) or negative (rebate points).

The more positive points you choose to pay up-front, the lower your interest rate will be. For every point you pay, your rate will go down by about .25%.
On the other hand, you can opt for a loan with a higher interest rate in exchange for a rebate, which will give you a credit towards paying some of your non-recurring closing costs, such as title insurance, appraisal and origination fee.

can’t get any cash back from You rebate points.
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