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When you are ready to buy a home, you need to figure out how much you can borrow. Many sellers like to see that you have already been considered by a lender, and that you have been approved for an amount that will allow you to buy the home. Part of the process to qualify for a mortgage can include a pre-qualification or a pre-approval. Both of these actions can help you when it comes…

[ad#Content 300×250]One of the ways that you can reduce the interest rate on your home mortgage loan is to pay points. A point is equal to 1% of the cost of your loan principal. If you get a mortgage for $180,000, each point is $1,800. You can usually get a reduction in your interest rate by up to 1/4 of a percent. (Some lenders will not offer such a discount, though.) So if you pay…