$cott wrote:
If you a purchasing a home for 140K with 20% down, the amount you will
need to finance will be 112K. If you are interested in purchasing two
discount points to purchase down the rate even further, your cash
investment will only be 2240.00 not 10K (1 discount point = 1% of the
loan amount). Who told you that the cost of two discount points on a
112K loan is 10K? If the lender did, proceed with caution or
reconsider your choice in lenders (because it appears that they are
building added profit for themselves in the discount point allocation).

No, the $10K was going to be an extra down payment. I was also
considering purchasing 2 points, bring the total amount borrrowed on
the card to around $12200. The break even point on the points is 5
years, I'm still not sure if I want to do that...

Put putting the extra $10K now, and paying that off in 5 years, and
then continuing to pay that same full amount each month by putting the
extra towards the mortgage after the CC is paid off - works out to
paying off the morgage 4 years faster than just paying the extra
payment alone.

-Ryan