Should I buy mortgage points?
Yes if you'll stay in the home 5-7+ years. The breakeven is typically 5-6 years — after that, the rate savings exceed the upfront cost. If you'll move or refinance sooner, points are wasted money. Calculate: monthly savings × months needed = upfront cost. Above breakeven = profit.
More context
Yes if you'll stay in the home 5-7+ years. The breakeven is typically 5-6 years — after that, the rate savings exceed the upfront cost. If you'll move or refinance sooner, points are wasted money. Calculate: monthly savings × months needed = upfront cost. Above breakeven = profit. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.