 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
 |
 |
|
||||||||||||
 |
|
||||||||||||||
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
||
 |
 |
|
|||||||||||||
|
|||||||||||||||
|
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
Home Loans Advisor 10 Gotcha’s When Getting a Mortgage Part 5 > 5. Points to be charged. · Points charged on the load will vary from lender to lender. A point is calculated as one percent of the loan amount. Points charged are additional to the interest rate that is charged on the loan. A lender often makes his fees by charging points or to negotiate a lower interest rate. Buying mortgage points when one closes his/her mortgage can reduce its interest rate, which in turn reduces the monthly payment. However, each “point” will cost the borrower 1% of his/her mortgage balance. · Home mortgages come with certain charges or fees, one of these charges is called "points”. If you itemize your deductions on you tax return, you may be able to deduct "Points" as home loan interest. If one can deduct all of the interest on his/her mortgage, he/she could be allowed to deduct the "Points" paid on the home loan. |
|||||||||||||||||||||||||
