Discount Points

Discount points allow you to lower your interest rate. They are essentially prepaid interest, with each point equaling 1% of the total loan amount.  One discount point equals 1%.  So, for a loan amount of $100,000, the cost of 1 discount point would be an additional $1,000.00.  We do not automatically charge discount points.  

 When shopping for loans, ask lenders for an interest rate with 0 points and then see how much the rate decreases with each point paid. Discount points are smart if you plan to stay in a home for some time since they can lower the monthly loan payment. Contact your Tax Professional to determine if the Points are tax deductible when you purchase a home.  

Discuss this with our Loan Consultant and President, Kara Lowrie when you are locking in your interest rate if you are interested.

Contact our mortgage advisors. We are just a call away, call us at 318-549-2800 or click the button below to apply online.

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