One of the best ways to get a lower mortgage payment when purchasing a home is by getting a high score with origination points, also known as discount points! These points, which are equal to one percent of the total loan value, can be paid by the borrower, the home seller or can even be gifted by relatives to help reduce interest rates. Points are flexible and are a convenient way to lower the total price over the life of your loan, especially if you have less-than-perfect credit.

The amount that is cut from your interest rate depends on the loan product, but one point usually means a reduction in your interest rate by 1/8 or 3/8 of a percent. This, coupled along with our Float Down option, gives you the best control over your loan’s interest rate, as you can reduce your interest amount and be protected in the event that the rate sinks lower once you lock in your agreement. Your loan officer will be able to give you advice on how to best exercise your options on points, but they are most often helpful when you plan to stay in a home for the long haul – if you have a shorter term loan, you won’t see as much savings.

To learn more about our Atlanta mortgage products, contact either of the PrimeLending offices convenient to the Atlanta area at:

Vinings location

4300 Paces Ferry Road SE, Suite 333
Atlanta, GA 30339
770-615-4608

Alpharetta location

3480 Preston Ridge Road, Suite 390
Alpharetta, GA 30005
770-615-4513