5 types of home loans

What Are Mortgage Points And How Do They Work? | Bankrate

Mortgage Points Explained

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Annual percentage rate (APR) and effective APR

APR vs. interest rate. Points vs. credits. PMI, escrow, loan...

When I finally understood how mortgages calculate interest, everything changed. My wife and I replaced our traditional mortgage with a properly structured HELOC, then routed our income into the HELOC checking account. Instead of sitting idle in a separate checking account, our cash flow reduced the principal balance sooner — which changed how much interest accrued, which saved us money. This isn’t a typical refinance into a lower rate mortgage, and it’s not something most banks are trained to ex