文章摘录
Learn what different types of mortgage points are, 回购是如何使用的, 你可以买多少积分, 你能存多少钱, 如果你应该买的话
The term “points” often appears during the mortgage application process and at closings. It can have at least two meanings, but the most common meaning refers to an optional way for a borrower to reduce the interest rate on the mortgage loan. For every “discount point” the borrower purchases, the interest decreases by a certain amount.
A common mortgage term you may hear is “basis points” or “bps”. Lenders call them “bips” when spoken aloud. The main thing you need to know as a homebuyer is that one hundred bps equal 1% - so one basis point equals 0.01%. If you get a quote of 4% 从 a lender, and it changes to 4.25% a few days later, it went up by 25 bps.
»阅读更多: 购房词汇101
点的类型
一个按揭点数是多少? Generally speaking, one “point” is equal to 1% of the amount of a mortgage loan. One point on a $250,000 mortgage would cost a borrower $2,500, for example. This is how much the borrower pays - not necessarily the amount the interest rate will be lowered by.
Two kinds of points are common in home mortgage loans: origination points and 折扣点. It’s important to understand these two terms while having discussions with your lender.
起始点
Some lenders use points for the fee they collect for making the loan. These are known as “origination points.” Not all lenders charge points for originating a loan. Some charge an origination fee instead. This is part of what your mortgage lender is paid.
The number of origination points may be negotiable based on factors like credit score, 债务收入比, 还有首付. The borrower pays these points at closing.
抵押贷款Buydowns
You can make a deal with your lender for a lower interest rate during the first few years of the loan term. You pay a fee, similar to 折扣点, in exchange for this rate reduction. At the end of the agreed-upon time period, the interest rate increases to the full rate. It will remain fixed at that rate for the rest of the term of the loan.
Sellers may offer buydown deals in order to make their property more appealing to homebuyers. Buyers should pay close attention to the purchase price, however. A seller might try to inflate the sales price in order to offset the buydown cost.
A lower interest rate means lower monthly payments for the homebuyer. The payments will increase as the interest rate goes up. A buydown can help a buyer afford a more expensive home with a larger mortgage by giving them time to build their income. The buyer takes a risk, however, that their income will grow enough by the end of the buydown period.
Several types of buydowns may be available:
- 1-1-1 Buydown: The interest rate is reduced by 1% for the first three years of the loan term, and then goes up to the full rate.
- 2 - 1 Buydown: The interest rate goes down by 2% during the first year and 1% during the second year.
- 3-2 - 1 Buydown: The interest rate goes down by 3% in the first year, 第二年是2%, 第三年是1%.
抵押贷款回购例子
Suppose a borrower takes out a 30-year mortgage loan for $400,000 with a fixed interest rate of 4.5%，首付2万美元. 他们会为3-2-1买进买单. 他们的 interest rate and monthly payments 具体内容如下:
第一年: 1.5%, $1,549
第二年: 2.5%, $1,739
第三年: 3.5%, $1,944
第四年及以后的年份: $2,163
Buydowns are not available for all types of mortgage loans. The rules and restrictions can be complicated. 例如, 2-1 buydowns are available for purchase-money mortgages backed by the Federal Housing Administration (FHA), 但不包括联邦住房管理局的再融资. Purchases of first or second homes are eligible for 3-2-1 buydowns, but not investment properties. A mortgage lender can give you more information about whether a buydown is available in your situation.
Discount Mortgage Points and 它们是如何工作的
所有提到的数字, 包括利率, are for illustrative purposes only; they may not reflect obtainable interest rates today.
The more common usage of the term “points” involves “折扣点” that a borrower may purchase at closing in order to lower the interest rate on the loan. For every point that a borrower purchases, the lender will reduce the interest rate by a specified amount. The reduction may vary 从 one lender to another, but a 0.25% reduction per point is common. Borrowers may purchase fractions of points, often down to one-eighth of a point.
Suppose a borrower has been approved for a $400,000 30-year mortgage at 4% interest. Each point would cost $4,000, and would reduce the interest rate by 0.25%. The lender offers to lower the interest rate to 3.625%如果借款人购买1.5 points, which would cost the borrower $6,000. If the borrower declines the offer, they would pay the original 4% interest rate.
How many points can you buy on a mortgage?
Points typically cost 1% of the loan amount. If you are borrowing $250,000 to buy a home, one point would cost you $2,500. You may buy fractions of a point, such as half a point for $1,250 or 1.3750美元5分. Each point that you buy reduces the interest rate by a set amount.
No specific limit applies to the number of points you may buy, but both federal and Texas laws might limit the total amount that a lender may charge you for closing costs. Too many points would push your closing costs over that limit. Different rules apply to different types of loans, such as purchase-money mortgages, 套现再融资贷款, 或者房屋净值贷款. A mortgage professional can discuss whether any limits apply to the type of mortgage loan that you need.
你应该购买抵押贷款积分吗?
When deciding whether or not to purchase 折扣点, you need to consider factors like:
How long you plan on owning the home
How much the mortgage will cost you over the life of the loan
How much you could save over time by paying for points now
Whether you can afford the points now
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How much can you save by purchasing mortgage points?
If you take a full 30 years to pay off a $400,000美元抵押贷款利率4%, you will pay a total of around $687,478. 如果你买1.5 points offered by the lender, your interest rate would be 3.625%, and over 30 years you’d pay about $656,714.
Your $6,000 up-front investment would lead to a total savings of $30,764, albeit 30 years later. That averages out to slightly more than $1,025 in interest that you don’t have to pay each year.
Discount points work the same way on adjustable-rate mortgages (ARMs). You just need a few extra steps to calculate the total cost and potential cost savings.
Are buying mortgage points worth the cost?
If you’re planning on staying in the home for a longer time, it might be worth it 从 a pure cost perspective. If you plan on buying your “forever” home, buying mortgage points is likely well worth the upfront cost. Your mortgage advisor will map out these scenarios clearly.
An experienced mortgage advisor can 运行对比场景 为你.
Are mortgage points 免税的?
Loan origination points are typically not 免税的. For this reason, many lenders have moved to different fee structures.
Discount points raise several issues with regard to tax deductions. The interest you pay on your mortgage is 免税的. Buying 折扣点 reduces the total amount of interest you will pay. 这将, 反过来, reduce the amount of your annual mortgage interest tax deduction, but only by a small amount most years.
Recent amendments to federal tax law have made the 贴现点的扣除 有点不确定. The IRS considers 折扣点 to be prepaid interest. For the tax years 2018 through 2025, 折扣点 for purchase-money mortgages should be fully deductible, but points on certain home equity loans are not. After 2025, only 折扣点 on the first $750,000 of a loan will be deductible.
获得有关抵押贷款点数的建议!
Deciding on mortgage points can be tough when you realize the potential savings to be had over decades of mortgage payments. It's not the right decision for everyone, though. You need personal guidance 从 an experienced lender that knows the pros and cons. Get in touch with 伍德球道集团 by answering a few simple questions 关于你作为一个购房者. We'll reach out to review your best options!
