Rate State Explains What Mortgage Points Are and How They Affect Loans in Latest Article

In Rate State's latest article, they explain what mortgage "points" are and how these points can be used to lower monthly mortgage payments.

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Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase.

Seattle, Washington (PRWEB) June 29, 2013

Rate State released an article explaining mortgage points and their effect on loans. This article shows customers the advantages of mortgage points and what the general concept of a mortgage point actually is, as it pertains to consumers.

In their article, Rate State explains what mortgage points are, and they assert the following about the best uses of mortgage points: "Paying points is a good option for homeowners who have significant savings, but are concerned about their monthly house payments in the future. Although by buying points, you’ll have a large lump sum to pay at closing time (in addition to the down payment, and the closing costs), you’ll know that you don’t have to come up with so much money each and every month for 30 years."

In addition to this central point, Rate State stresses the importance of long term financial planning and demonstrates the potential savings when looking at long term loans. In the past, Rate State has also released guides to obtaining better refinance rates, as announced here, and a plethora of helpful tips for consumers around the topic of mortgages and refinancing.

About Rate State

Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase. They provide consumers with access to the information they need in order to make a decision potentially saving thousands of dollars over the term of their next home loan.