Should I Pay Points When Buying A Home?

This is Craig the borrower. Before Craig closes on the purchase of his new home, his loan officer from A and N Mortgage, asks him if he would be interested in PAYING POINTS?

The A and N Mortgage Loan Officer tells Craig, that if he believes he is going to own his property for a long time, he recommends that they analyze if PAYING POINTS has a fiscal benefit. PAYING POINTS simply means that you pay more money at closing, to secure a lower interest rate on your mortgage. The cost of one point, is equal to one percent of your total loan amount, and lowers your interest rate by about point two, five percent.

You can choose how many points to pay, to obtain your desired rate and closing fees, and those points can be paid at closing. Discuss with your A and N Mortgage Loan Officer, to decide is PAYING POINTS is best for you!

Animation/Editing: Matt Nikkila
Music by: David Kornfeld
Theme Song Lyrics by: Ricky Glore
Vocals by: Ali Delianides, David Kornfeld and Ricky Glore