Educational Resources

Why PrimeLending?

You need mortgage professionals you can trust. You need a company that values honesty and integrity throughout the entire organization. You need mortgage planning specialists who give you their best consistently. You need to find strength, stability and opportunity—especially now. You need PrimeLending!

When dealing with your home financing, we are not only working with one of your largest personal financial investments; we also are handling one of your biggest dreams. Since we work with matters so close to the heart, we serve you from ours.

With the ability to originate and close loans in 50 states and with over 200 branch locations nationwide, PrimeLending can meet you where you are and help you where you are going. Let us provide you a mortgage without obstacles.

Discount Points

Choosing to pay a discount point is basically the same as paying your lender for a part of the interest rate. Paid at closing, one discount point equals 1% of the loan amount.

The advantages of paying discount points are clear. By doing so, you lower your interest rates, thereby your monthly mortgage payments, over the length of the mortgage term. The interest rate on a mortgage often times can decrease by one quarter of a percentage point for every discount point you pay.

As a reminder, this does not lower or affect the amount that is borrowed. It solely lowers your interest rate and thus your monthly payments.

Deciding What Is Best For You

As with deciding between a fixed or adjustable rate mortgage, deciding to pay discount points is best determined by considering the length of time you plan to own the home. More benefits exist if you plan to own the home for a longer period of time. It may not be worth the effort if you plan to sell the property or refinance your loan in the near future. The goal is to be invested in the property long enough to enjoy the advantages of paying discount points provides.