Points or No Points?
Started by anonymous
over 9 years ago
Discussion about
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Hello, I am looking to finance a co-op purchase on the ues. It's a 1BR pre-war, doing a 30yr fixed via a mortgage broker. Loan amount is 355k. My options are: 4% with no points with a "credit" of $900, or 3.875% with the point purchase. I plan to resell between 5-10 years. What do you think would be the best route to take? I have always heard that you should stay away from points as a general rule of thumb, but maybe this wouldn't be the best route in this case? Any input appreciated.