Home mortgage information & tools

So about two weeks ago I got a letter in the mail from a finance company offering a new low interest rate on my home FHA home loan. I should hurry and take advantage of the new low rates and drop my interest rate from 6% to 5% with no out of pocket money. Because [...]

What is a point when referring to a mortgage loan? A point is simply a percentage point of the overall loan amount that is paid up front, usually included in closing costs. For example if you are financing $200,000 and paying 1.5 points, you will have to come up with $3,000.
Why pay points toward a [...]