15 Year Fixed-Rate Mortgage with Points

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When you choose a 15 year fixed rate mortgage with points, rather than the typical 30 year, you benefit from a lower rate, a chance to build more equity and less interest overall.

When you are paying points, this means buying down the interest rate. Some companies call it “discount points” while others call it “origination fees.”  Either way you are paying to get the lowest possible rate for your mortgage.

Who Should Pay Points?

Refinancing

If you are refinancing and plan on keeping the mortgage for the entire term of the loan then it may make sense to pay points as you will end up saving more in interest over the life of the mortgage.

Purchasers

If you are purchasing a home and know for certain that you will keep the mortgage for the entire term and have the extra money to bring to the closing table than it makes sense to pay points to buy down the rate.

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All rights reserved © 2023 Mortgage Expert, Inc. NMLS ID: 2412313 Location: 142 W Lakeview Ave, Suite 2050, Lake Mary, FL 32746 | Phone: (407) 955-9235 Content provided by Shahram Sondi The information provided on this site is for basic informational purposes only and IS NOT intended as a substitute for professional or legal advice. Notice: SHAHRAM SONDI + CO (License #: CQ1049127) and Mortgage Expert (NMLS ID: 2412313) are both wholly-owned entities of Shahram Sondi (NMLS ID: 186790, License #: BK3225742). Due to this relationship, any referral between these two entities has the potential to financially benefit Shahram Sondi. Under no circumstance are you required to engage the services of one or both of these entities. View $1000 Best Rate Guarantee Terms & Conditions
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