WHAT POINTS WILL BE CHARGED?
A point is equal to 1% of the loan. Points are a portion of the interest on your mortgage that are paid up front, lowering the interest rate. Points are paid at closing, and may be paid by the buyer or by the seller, or split between them. The lender determines how many points are charged, and you’ll want to find out as soon as possible what options you might have and how they could benefit you.
