Advice for Consumers
What’s the point of mortgage points?
If you’re financing a property purchase, you’ve probably come across the term points or discount points. Although there are other meanings, most often these terms refer to prepaid interest, with one point equal to 1% of your mortgage loan.
Lenders offer borrowers the opportunity to purchase points on their mortgage, which means you’re paying up front to lower the interest rate of your loan. Here are some questions to ask when deciding whether you should buy points:
How long will you live in the house?
You usually benefit more from points the longer you stay in the property. That’s because the savings you realize on each monthly payment will accumulate and eventually offset—hopefully exceed—your points payment.
Can I afford points?
You need to provide a downpayment and cover the closing costs to secure a mortgage. Do you also want to pay for points?
How much will the rate come down?
Each point costs 1% of the loan amount, but the interest-rate reduction you receive varies from lender to lender.
Don't worry. Experts like your Texas REALTOR® are available to help you make the decision right for you.
3 ways to prepare for November 8
Mark this date on your calendar: October 11. That's the deadline to register to vote for the November 8 election. Go to votetexas.gov to learn how you can get and submit an application.
If you’ve already taken this important step, there are a few other ways to ensure you’re ready for this historic election.
Double check your info
Did you move recently? Even if you just moved across town, you may be in a different district or precinct, so it’s important to keep your record up to date. The Texas secretary of state’s website votetexas.gov is a great resource to see where you’re registered and to change your information.
Learn when and where to vote
Early voting will be October 24 to November 4. This convenient option lets you cast your ballot at any location in your county, but you may have to vote in your precinct on Election Day.
Get deputized for democracy
If you’re really dedicated to the election process, contact your county to find out how to become a deputy voter registrar. After completing a brief training, you’ll be empowered to educate people about the voter-registration process.
What is a Texas REALTOR®?
Not all real estate agents are REALTORS®.
Only those who agree to abide by a code of ethics that goes beyond what the law requires may join the Texas Association of REALTORS®.
Read the REALTOR® Code of Ethics
Texas REALTORS® do more than help you buy and sell real estate
They protect the rights of property owners. They fight proposals that would increase the burdens on buying, selling, and owning real estate. And they bring property-owners’ concerns to the Legislature, regulatory agencies, and local authorities.
Learn more about how Texas REALTORS® can help you