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What are Points?

A point is prepaid interest the the lender requires at the start of a mortgage in exchange for a rate below the current cost of money. A point is equal to one percent of the loan amount, as an example, a $200,000 mortgage x 1% = $2,000 or one point. Either the buyer or the seller can pay points in exchange for a lower interest rate for the life of the loan. The buyer can also benefit on their income taxes when points are paid.

Would you like to learn more about Real Estate? Have you ever wanted to become a New Jersey Real Estate Salesperson License holder? Want to know more about being a New Jersey Licensed Real Estate Agent? Click on the link for the schedule of our upcoming classes for Real Estate:

Pond flanked by pines
Pond flanked by pines

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matthew green
matthew green
29 de abr.

I dont know about "What are Points" but I will guide to you after consulting my senior person, so you will send personal contact number.

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