mortgage question

[IHateMyJob2004]

if I pay points and "roll all costs" into the mortgage, does that also mean that the points are rolled into the new mortgage? I know mostly everything else is, but this just seems like a contradiciton in terms.

 

[Adica]

Yes I think so.

 

[Vic]

Of course. How is that a contradiction in terms? Points are costs used to buy down the interest rate.

 

[isasir]

Points are part of closing costs. Closing costs are added to mortgage amount.

 

[dirtboy]

Yes.