2671: What Are Mortgage Points (And Should You Buy Them)? by Jeff Rose of Good Financial Cents
Shedding light on mortgage points' potential benefits and drawbacks
Optimal Finance Daily - Financial Independence and Money Advice · Optimal Living Daily | Diania Merriam
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Show Notes
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Episode 2671:
Jeff Rose of GoodFinancialCents.com demystifies mortgage points, shedding light on their potential benefits and drawbacks. He navigates through the intricacies of buying points to lower interest rates, the considerations of homeownership duration, and the fluctuating real estate market, offering valuable insights for those pondering this financial decision.
Read along with the original article(s) here: https://www.goodfinancialcents.com/mortgage-points-should-you-buy-them-what-are-they/
Quotes to ponder:
"Pay $3,000 for a point now, and you could save that much and more later on over the course of the loan."
"The real value of a point is not always so simply calculated."
Episode references:
IRS Topic no. 504, Home mortgage points: https://www.irs.gov/taxtopics/tc504
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