Mortgage

QHow Do I Determine Whether Or Not To Pay Points?
AIt depends on how long you're going to keep the property. If you're anticipating a quick turnover, it will probably save money to take a mortgage with zero or low points. But if you stay in the home longer than you anticipated, a no-point loan could cost you more. Ask your mortgage broker or loan agent how long it will take for the higher interest rate on a no-point mortgage to negate the savings you get by not paying points. If it's five years and you stay longer, the no-point loan will cost you more than if you initially paid points for a lower rate.