Buying points with current interest rates.

Okay so I’m currently under contract. Loan amount will be 325k. My base rate is 5.125. I can pay 2 points for $6500 to get it down to 4.375. I did the math and with the savings on the monthly payment I’d break even in 3.5 years.

Obviously the reason not to do this is if the rates drop enough before then to justify refinancing. I plan on this being a long term home for me.

What’re people’s thoughts on the best path forward?

submitted by /u/jerjerbinks90
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Okay so I’m currently under contract. Loan amount will be 325k. My base rate is 5.125. I can pay 2 points for $6500 to get it down to 4.375. I did the math and with the savings on the monthly payment I’d break even in 3.5 years. Obviously the reason not to do this is if the rates drop enough before then to justify refinancing. I plan on this being a long term home for me. What’re people’s thoughts on the best path forward? submitted by /u/jerjerbinks90 [link] [comments]

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