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Encash Your Pay Points..There are some terms in money market that are commonly used but not often explained with true meaning. Unless asked or emphasised one is expected to know it like paying points. One of my friend who is planning to get a home financed faced a similar situation. So, in this article I decided to talk about the Paying points in detail. Per the simple dictionary definition paying point refers to a trade-off that takes place between paying money now and paying money later. There is reduction in loan interest rate on paying an upfront fee. This means, when one opts for paying points, one pays an upfront fee which reduces their monthly interest rate and also total interest due over the period of one |
| Date added: 2009-05-10 16:33:09 Hits: 18 |
