I'm working on a project where we have to fake buy a house. I've got a $345,000 15 year fixed loan to work with at an interest rate of 3% without points. If a pay $2,494.35 for 0.723 points, I can lower my interest rate but I don't know by how much… What does the 3% interest rate become when I purchase those points?
Read more: How to know how much mortgage points will lower your interest rate by?
