Discount points, lender credits and buydowns, weighed on your own numbers
When points are chosen
Point made
You choose points together with the rate, usually when you lock. Before locking, your Loan Estimate may show points as estimated. After the lock, the points and rate are set unless the lock changes or expires. You cannot add points after closing; the only way to change them later is to refinance.
Last reviewed against the primary sources listed below.
Timeline
- Compare Loan Estimates with and without points.
- Choose the combination when you lock.
- Confirm the points on the Closing Disclosure.
Points and credits, answered
Can I buy points after closing?
No. Points are part of the loan terms set before closing.
Do points have to be decided at application?
No, but they are usually set when you lock the rate.