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Real estate → Home mortgages and real estate financing → Mortgage types
ANSWERS: 1
  • Official Know-It-All
    The amount by which a point will reduce a mortgage payment depends on the interest rate, the loan amount and your lender. One point on a mortgage will cost you 1 percent of the mortgage amount, and it generally reduces the interest rate by .25 percent, but this number varies by lender.

    Source:

    Bankrate, Inc.

    Mortgage Info Today

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