Yes, if you plan to stay in the property for a least a few years. Paying discount points to lower the loan's interest rate is a good way to lower your required monthly loan payment, and possibly increase the loan amount that you can afford to borrow. However, if you plan to stay in the property for only a year or two, your monthly savings may not be enough to recoup the cost of the discount points that you paid up-front.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 219462
Licensed Mortgage Broker with
NJ Department of Banking and Insurance
and
PA Department of Banking and Securities
www.nmlsconsumeraccess.org
Xpress Financial Mortgage Corp.
dba Xpress Lending
4270 Route 1 North
Monmouth Junction, New Jersey 08852
Phone: (732) 951-0808
anil@xpresslending.com
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