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When it comes to obtaining a mortgage, borrowers often encounter the term "mortgage points." These points, also known as discount points, are fees paid upfront to the lender in exchange for a lower interest rate on the loan. But do you have a point when it comes to purchasing mortgage points? The decision to buy mortgage points depends on various factors, including the borrower's financial situation and long-term plans. Paying points can be beneficial for those planning to stay in their homes for an extended period since the reduced interest rate can lead to significant savings over time. On the other hand, if you anticipate selling or refinancing in the near future, the upfront cost of points may outweigh the potential savings. Furthermore, it's crucial to consider the breakeven point—the point at which the savings from a lower interest rate offset the upfront cost of points. If you plan to recoup the cost within a reasonable timeframe, purchasing points could be a wise choice. In conclusion, the decision to buy mortgage points ultimately depends on your specific circumstances and goals. Assessing your financial situation, considering your long-term plans, and calculating the breakeven point are essential steps in determining whether you have a point in purchasing mortgage points. Consulting with a mortgage professional can provide valuable guidance and help you make an informed decision.