Paying points on a new mortgage to lower interest rate

[razzwoman]

I have great credit over 800.  Is it worthwhile to pay for 1 or 2 points and lower the interest rate?  If not, why?

[DallasLoanGuy]

it pays off over time.

just calculate the breakeven point.

you lose only if you dont stay in the property past that breakeven point.

[MarineVietVet]

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@razzwoman wrote:

I have great credit over 800.  Is it worthwhile to pay for 1 or 2 points and lower the interest rate?  If not, why?

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I paid 2 points when I did my refi in 2003 because I knew I'd be here for many years.

In other words what DallasLoanGuy said! 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".