Your refinance break-even point is the time it takes for the savings from refinancing to cover the costs involved. Refinancing can extend the time it takes to become mortgage-free and increase your ...

Mortgage points, also known as discount points, are fees you pay a lender to reduce the interest rate on a mortgage. Each point typically costs 1% of your loan amount and reduces your interest rate by ...

A point is prepaid interest; so buying points is paying part of your mortgage interest upfront instead of over the life of ...