How You Can Get a Lower Interest Rate Thru Discount Points

Not stoked about the interest rate for you mortgage to purchase your home? Did you know you may be able to purchase a lower interest rate? My buddy Chris Boston took some time to chat with me about discount points... You may want to check it out. 

[Brendan] Chris, Discount points. Dude, I've heard people pay points, but I don't understand what is it?

[Chris] Great. So discount points are part of the closing costs. They are percentage points in which borrowers can pay additional funds up front to buy down the interest rate. And the discount point can range between .125 percent all the way up to whatever number. But easiest money that the borrow pay in addition to the other closing cost, directly towards buying down the premium.

[Brendan] Guys, so you don't, you don't have to it. It's just if you wanna lower interest rates.

[Chris] Right.

[Brendan] It's a way that you can get your interest rate lowered a little bit

[Chris] Exactly!

[Brendan] by paying some money up front.

[Chris] Absolutely. That's it.

[Brendan] Gotcha! Good deal.

[Chris] Simple way.

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