Welcome to HomeFree-USA Financial FAQ Knowledge Base. Type in your question or search keywords that correspond to your issue.
For example: What should I do if I miss mortgage payments?
Discount points allow you to lower your interest rate. They are essentially prepaid interest with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage, the interest rate is reduced by 1/8 (or.125) of a percentage point.