Tag

mortgage interest

Browsing

[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…