Thoughts on buying points on a mortgage? I’ll put my mortgage at 2.99% but not sure if it’s worth it if i was quoted at 3.25%. I’d have to keep the property for 6 years for it to be worth it. Any help much appreciated!

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Depends, are you going to live there more then 6 years?

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Thinking i might actually rent out for 6+ years after living in it for 2-3.

If you plan to own the home for more than the break even (in your case, 6 years) then go for it. I did this for my rental

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Points are rarely ever worth it if you factor in the opportunity cost of lost market returns.

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also APR is lower for 2.99 so technically wouldn’t i already be saving some money there besies breaking even?

You can figure it out by doing the maths honestly. Calculate total cash for both situations. See how long it would take to break-even. If you want to be fancier, compare the 30 year cash outs and calculate the rate of return on paying today. If the rate of return is lower than what you’d get elsewhere - stock market - you are making a bad deal.

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