Interesting Tips for Choosing the Right Mortgage

Discount points/Rebate points
   A point is one percent of the loan amount, and can be positive
   (discount point) or negative (rebate point). It is a fee or credit
   that is added to or subtracted from your closing costs.

How points and rebates work
   Lenders normally offer the same loan at various rates
   depending on how many points you choose. Pay more points,
   and you'll get a lower rate. Or, in exchange for a higher rate, get
   rebate points to offset some of your closing costs.