How Mortgage Points Can LOSE Your Money

Рет қаралды 4,634

Күн бұрын

Пікірлер: 33

@ambrosiamartinez1458 4 ай бұрын

Veteran here. You saved me $14k that my current lender wanted to charge in points alone for IRRRL. Your team was able to do offer the same rate with slightly lower APR with no points. My husband and I are both veterans and couldn't wrap our heads around how honest and helpful your team is and was to us. We will forever be grateful and continue to refer everyone we know to you. ❤️🇺🇲

@JenniferBeeston 4 ай бұрын

❤️❤️❤️❤️❤️❤️❤️

@illiteratealphabetagency9716 8 ай бұрын

I don’t even know how to pronounce mortgage points, but will gladly watch your videos anyways.

@JenniferBeeston 8 ай бұрын

Thank you:)

@ExploreEmbraceExpress 8 ай бұрын

Can't thank you enough for the time and effort you put in to your videos. Hoping so many people. May the good that you do come back to you❤️

@JenniferBeeston 8 ай бұрын

❤️❤️❤️

@JesusHernandez-fz4cg 6 ай бұрын

I can relate to this! I had to learn it on my own when I refinanced my property three years ago. And yes! The lender that worked this out for me didn’t bother to explain. I did have a bad experience with him. I see him all over town on billboards and advertising outside of new neighborhoods. It doesn’t matter, I promised myself wouldn’t go back to that lender in the future. I had always wondered how to determine when buying points makes sense or not. I get it now thanks to you Mrs. Jennifer! Yay!

@KyserMont 8 ай бұрын

As always I love your content Jen and I’m glad you’re talking about Points. People are getting emotional about interest rates and paying to brag about the interest rate they basically pre-paid for and unlikely to breakeven once rates come down and they decide to refinance

@codebluecpr2969 8 ай бұрын

With VA loan, does math work if refinance if rate goes down in 6 months for example. Free refi

@JenniferBeeston 8 ай бұрын

Generally buying down the rate does not make sense but there’s no guarantee that rates will go down in six months. It’s always a conversation, but I’m very hesitant to do large points with VA loans because the VA irrl is such a great refinance and makes it so easy if the market drops.

@snape57 8 ай бұрын

No point of going with points in 2024. Rates at max going to fall in 12-18 months, and points not going to help that much till that point, wont be able to breakeven 😒

@alexhardee5746 8 ай бұрын

You’re doing the Lord’s work! At what point does the math work on buying points? For example, at what point would the break even amount not make sense?

@ZER0_G 8 ай бұрын

Some rough math: calculate your monthly payment with the par rate and again with the reduced rate, then subtract them to get the difference. Divide the price paid for the point(s) by this difference and that will give you the number of payments/months to break even.

@JenniferBeeston 8 ай бұрын

Nailed it

@hokamidat 8 ай бұрын

@@JenniferBeeston I think you guys misunderstood the question. At what point (how many months to break even) does buying points make sense. Like obviously 30 years to break even is bad but how many months is good?

@JenniferBeeston 8 ай бұрын

It depends on where you think rates are going. I would never personally do anything that takes over 3 years to recoup

@MT-ou8sh 3 ай бұрын

Wow i am leaning ....me and my husband just start shopping around and one of the bank we talked ro mentioned about buying points and i didnt fully understand so i come here and found this video....thank you so much ...are you licenced in TX....i would like to check your bank since we are still ahopping around for a lender ... And how does checking different lender for loan affect our credit score ?

@JenniferBeeston 3 ай бұрын

Yes I am licensed in texas. Give the team a call on Monday 786-933-2077 We can run rates without running a hard pull. To get fully preapproved which I highly recommend we do a hard credit check, but you can have multiple lenders run within a 45 day window without hitting your credit as per the CFPB.