First time homebuyer, VA Loan Meredith Munger First time homebuyer, VA Loan Meredith Munger

Lies, Damn Lies and Discount Points

When you purchase or refinance a home loan, you can buy down (actually pre-pay) the interest rate using 'discount points'. The lower the interest rate, the lower the monthly payment.

Every loan has an option for discount points, but you need to do the math to determine whether buying down the interest rate with discount points is worth the lower payment.

Read More