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03-21-2009, 02:41 PM
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What are the pros and cons of paying points for a
mortgage? I was once told by a financial adviser that it is not worth it to pay pointsto bring down interest on a mortgage. yet the usual advice for a refinance is its a good deal if you are staying in the house and can save 1% on interest. Well a refi cost me $4000 in closing costs to save the 1% so why wouldnt it be worth it to pay $1000 point to save the 1%?
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