Can someone help me understand these mortgage points?

The lender is closed for the night so I’m hoping that one of you would be willing to help me decipher this.

I always thought 1 point = 1/4 of a percent. So 2 points = 1/2 a percent.

But looking at this, it appears that i’m paying nearly 2.5 points and it only brings me down from 6.125 to 5.99 ….

Im paying 2.5 points to go down only .125 percent?

https://i.ibb.co/BN2dFcH/3599-FDB6-89-A3-4635-86-F6-F2-E554-EE3436.jpg

submitted by /u/_The_Rooster
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The lender is closed for the night so I’m hoping that one of you would be willing to help me decipher this. I always thought 1 point = 1/4 of a percent. So 2 points = 1/2 a percent. But looking at this, it appears that i’m paying nearly 2.5 points and it only brings me down from 6.125 to 5.99 …. Im paying 2.5 points to go down only .125 percent? https://i.ibb.co/BN2dFcH/3599-FDB6-89-A3-4635-86-F6-F2-E554-EE3436.jpg submitted by /u/_The_Rooster [link] [comments]

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