https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 03 May 2026 16:39:43 +0000 https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271863 Mon, 24 Aug 2015 15:16:32 +0000 Mrs.Someone 2271863@https://boards.hellobee.com/ <p>A mortgage is the cheapest loan you can get, do it's better to invest that money since you can get a higher return. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271803 Mon, 24 Aug 2015 14:09:02 +0000 BlueWolverine 2271803@https://boards.hellobee.com/ <p>@Alivoo01: That's a great idea. I'll ask the lender for that schedule. </p> <p>We're lucky in that we don't have to pay PMI - VA loan! </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271784 Mon, 24 Aug 2015 13:56:08 +0000 Alivoo01 2271784@https://boards.hellobee.com/ <p>We didn't for either house, but it depends on how long you plan on being at the house and your current financial stand point (but you already mentioned you rather not above). I would ask them to prepare a schedule with and without the points so you can see how much it affects you and if buying points is more beneficial for you. Sometimes, it doesn't make a big difference at all. I would be more concerned with PMI because that can range from nothing to a few hundred bucks depending on your loan amount! </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271727 Mon, 24 Aug 2015 13:10:29 +0000 avivoca 2271727@https://boards.hellobee.com/ <p>I think we bought one. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271711 Mon, 24 Aug 2015 13:01:50 +0000 sunny 2271711@https://boards.hellobee.com/ <p>I don't understand why your lender cares either way though... they either get the "extra money" now (in the form of points) or they get it through a higher interest rate for the life of your mortgage. </p> <p>We bought points with our initial mortgage and it ended up being the wrong move because we refinanced soon after to a lower rate. But given the fact that I don't have a crystal ball, it seemed like the right thing to do at the time. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271710 Mon, 24 Aug 2015 13:00:51 +0000 Truth Bombs 2271710@https://boards.hellobee.com/ <p>@BlueWolverine: If you aren't sure you'll be in the house long enough to break even, I would probably protect your savings and pay the higher monthly payment since points upfront don't go towards building equity in the house. If you were sure you'd be there forever I would say go for it. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271707 Mon, 24 Aug 2015 12:59:40 +0000 agold 2271707@https://boards.hellobee.com/ <p>No, but I forget why not. Most likely because I didn't have the money. It was hard enough to qualify and get the house/loan as it was. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271696 Mon, 24 Aug 2015 12:55:47 +0000 mediagirl 2271696@https://boards.hellobee.com/ <p>Absolutely not. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271695 Mon, 24 Aug 2015 12:55:21 +0000 BlueWolverine 2271695@https://boards.hellobee.com/ <p>It would take about 10 years. We're not sure how long we'll be there. Could be forever, could be five years, depending on whether I want to go after certain jobs. We're thinking it's not worth it at this point. </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271598 Mon, 24 Aug 2015 11:43:54 +0000 Truth Bombs 2271598@https://boards.hellobee.com/ <p>How long would it take you to break even on the upfront points and do you expect to be in the house that long? </p> https://boards.hellobee.com/topic/did-you-buy-points-on-your-mortgage#post-2271591 Mon, 24 Aug 2015 11:33:39 +0000 BlueWolverine 2271591@https://boards.hellobee.com/ <p>DH and I are negotiating with a lender on our mortgage. They are pushing us to buy points, but it would put a strain on our savings that I'd rather not do. We already get a pretty low rate without the points, but with points it would be 3.25%</p> <p>Did anyone buy points? Choose not to buy points? Why? Trying to wrap my head around consequences/what's best for us. Thanks! </p>