Should I pay discount points?
Discount Points (Points) and Origination Fees are basically pre-paid interest on your loan.
Dave Ramsey does not recommend paying them in most cases, because you can actually lose money when you pay points or origination fees!
This is upfront money out of your pocket, so if you don't stay in the home long enough to at least break even, you will not experience any actual savings and may lose money vs. a No Points and No Origination Fee quote.
Interest rate with Discount Points:
Total Home Mortgage Amount:
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