Points are your new Best Friends

If you are freaking out that rates went up while you are trying to buy a home, don’t.

Stop looking at rates. You’re not writing a check to an interest rate. Look at the exact payments. If you don’t like it, here is help to lower the rate. One word- POINTS. Points are fees that are paid at closing to lower your interest rate. Think of a see-saw. Lower rates, higher points, higher points, lower rates.

And we have two ways to help:

1.We negotiate with the seller to pay points to lower the rate. You may pay more for the home, but over the years, it will not matter.

2.Use the buyer broker rebate. This way, the rebate can pay for the points.

  • Either way, those points that the seller pays are tax-deductible to you. That’s a great bonus.

And, in this market, you have to have your mortgage fully underwritten before you can bid. Schedule a time to talk about your mortgage https://arrivva.xyz