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Should You Pay Discount Points When You Refinance Your Mortgage?
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Should You Pay Discount Points When You Refinance Your Mortgage?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

15 Year Fixed Rate Mortgage

0 Points2.750%
.5 Points2.625%
1 Points2.500%
1.5 Points2.375%
2 Points2.250%
2.5 Points2.125%
3 Points2.000%

The table below shows refinance rates and closing costs, including points, for leading lenders in your area. We recommend that you contact multiple lenders in the table to understand how discount points impact your refinance terms including your mortgage rate. Comparing refinance proposals enables you to to determine if you should pay discount points and select the mortgage that is right for you.

  • %
    Current Refinance Mortgage Rates as of May 24, 2019
    • Lender
    • APR
    • Loan Type
    • Rate
    • Payment
    • Fees
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    View All Lenders

    %

    Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
  • Review our Should I Pay Discount Points? video to learn if paying points when your refinance is right for you.

  • FREEandCLEAR Mortgage Instructional Video

    Should I Pay Discount Points? Instructional Video

  • Sources

    http://www.thehomestory.com/what-you-should-know-about-mortgage-discount-points/

    About the author

    Harry Jensen, Mortgage Expert

    Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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