Sunnyvale Real Estate City
Sunnyvale Mortgages & Loan Information
Discount Points
In the special vocabulary of mortgage lending, "points" are a type of fee that Sunnyvale lenders charge. (The full term to describe this fee is "discount points.") Simply put, a point is a unit of measure that means 1% of the loan amount. So, if you take out a $100,000 loan, one point equals $1,000. Discount points represent additional money you can pay at closing to the lender to get a lower interest rate on your loan. Usually, for each point on a 30-year loan, your interest rate is reduced by about 1/8th (or .125) of a percentage point.
Usually, the longer you plan to stay in your Sunnyvale home, the more sense it makes to pay discount points.
Further Information:
Sunnyvale Mortgages: About Mortgages
Sunnyvale Mortgages: Mortgage Amount and Term
Sunnyvale Mortgages: Amortization
Sunnyvale Mortgages: Fixed or Adjustable Interest Rates
Sunnyvale Mortgages: Down Payment
Sunnyvale Mortgages: Closing Costs
Sunnyvale Mortgages: Discount Points
Sunnyvale Mortgages: Conforming and Nonconforming Loans
Sunnyvale Mortgages: Fixed-Rate Mortgages
Sunnyvale Mortgages: 30-Year Fixed-Rate
Sunnyvale Mortgages: 20-Year Fixed-Rate
Sunnyvale Mortgages: 15-Year Fixed-Rate
Sunnyvale Mortgages: Adjustable-Rate Mortgages (ARMs) (page 1)
Sunnyvale Mortgages: Adjustable-Rate Mortgages (ARMs) (page 2)
Sunnyvale Mortgages: Adjustable-Rate Mortgages: CD-Indexed ARMs
Sunnyvale Mortgages: Adjustable-Rate Mortgages: Treasury-Indexed ARMs
Sunnyvale Mortgages: Adjustable-Rate Mortgages: Cost of Funds-Indexed ARMs
Sunnyvale Mortgages: Adjustable-Rate Mortgages: Initial Fixed-Period ARMs
Sunnyvale Mortgages: Adjustable-Rate Mortgages: Two-Step Mortgage
Sunnyvale Mortgages: Government Loans and Programs (General)
Sunnyvale Mortgages: Government Loans and Programs: FHA Loans
Sunnyvale Mortgages: Government Loans and Programs: VA Loans
Sunnyvale Mortgages: Government Loans and Programs: RHS Loans
Sunnyvale Mortgages: Government Loans and Programs: State and Local Loan Programs
Sunnyvale Mortgages: Balloon Loans
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