Discount Points and Lender Rebates
 point is one percent of the loan amount, and can be positive (discount point) or negative (rebate point). It is a fee or credit that is added to or subtracted from your closing costs.
Your pay almost nothing in closing costs if you opt for rebate points.
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| How points and rebates work |
| Points buy down your interest rate and increase your closing costs. Rebates do the opposite. |
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| Discount point strategies |
Use discount points to control the cost of your mortgage.
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| Points and taxes |
| Points are tax deductible. |
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