donaldduckmoore, I think you misunderstood my point. IF you’re a person who are buying a house right now and you want to get the best rates. What I’m trying to say is, the “best” rate will always come with points. Whether it’s worth to get those points or not depends on how long you want to stay in the house. Here’s an example, right now if you buy a $500k house w/ 20% down, using aimloan.com, you can get 5.25% w/ 0 points, but with all the fees, you’re looking at $3910 at closing. If you want 0 points 0 fees, i.e. no cost to you at closing, you’d have to pay around 6.25%. It would take out about 1 year to break even with the fees of $3910. So, if you’re not flipping, it wouldn’t make any sense to get the 6.25+% just so you pay 0 point & 0 fees.
