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2. 6 ways to get the lowest rate on your next mortgage - AOL

   www.aol.com/finance/how-to-get-best-mortgage...

   6. Do the math before buying points. Some lenders give you the option to buy "points" in order to reduce your interest rate. One point typically costs 1% of your loan amount.

3. Mortgage points: What are they and how do they work? - AOL

   www.aol.com/finance/mortgage-points-192840885.html

   In this example, the borrower bought two discount points costing 1 percent of the loan principal, or $3,200 each. By buying two points for $6,400 upfront, the borrower’s interest rate shrank to ...

4. How to get the best mortgage rate - AOL

   www.aol.com/finance/best-mortgage-rate-214229663...

   Each point costs 1 percent of your mortgage amount and typically reduces your interest rate by 0.25 percent. You can think of mortgage points as a form of prepaid interest.

5. Discount points - Wikipedia

   en.wikipedia.org/wiki/Discount_Points

   Discount points, also called mortgage points or simply points, are a form of pre-paid interest available in the United States when arranging a mortgage. One point equals one percent of the loan amount. By charging a borrower points, a lender effectively increases the yield on the loan above the amount of the stated interest rate. Borrowers can ...

6. How to get the best refinance rate on your mortgage - AOL

   www.aol.com/finance/best-refinance-rate-mortgage...

   A homeowner who gets a mortgage on a $250,000 home with a 4 percent interest rate for 30 years and a 10 percent down payment pays $1,195 a month, while a 20 percent down payment brings that down ...

7. Seller's points - Wikipedia

   en.wikipedia.org/wiki/Seller's_points

   Buyers can use seller's points to pay for prepaid costs, mortgage interest or temporary rate buydowns. [3] This means that if you have money in savings that you must retain, you could ask the seller to pay for a 1 to 2 percent interest rate reduction for a year or prepay your interest, homeowner’s association fees or homeowner’s insurance for a set period.