I was just skimming an article at CNN Money and it raised a great question – should you pay points for your loan?

The common wisdom was NO! For years local media ads trumpeted “No point/no cost” loans.

But times change, and it may pay you big if you choose to pay points for your loan today. I called Dan Borton this morning at Landmark Financial, just down the street from us, to see what’s been going on with points. He shared that 1 point (1% of the loan amount) 6 months ago brought down your interest rate about 1/4%, but today 1 point brings down the interest rate by about 3/4%.

Needless to say, the ability to pay points depends on your resources and how long you plan to stay in your home. So when you’re talking to your loan consultant, make sure you crunch the numbers to see what’s best for you!