Mortgage Points Explained: How Discount Points Work, When to Buy Them, and Whether They’re Worth It in Virginia
Mortgage points explained clearly: discount points are upfront fees paid at closing to permanently lower your interest rate, but whether they’re worth buying depends entirely on your breakeven timeline, loan size, and how long you plan to stay in your Virginia home. This guide walks through the exact math, compares points against origination fees, and shows Richmond and Chesterfield borrowers when paying points saves money — and when it doesn’t.
Debt to Income Ratio: The Number That Controls Your Virginia Mortgage Approval
Your debt-to-income ratio (DTI) is the most critical calculation in mortgage underwriting, directly determining how much home you can finance and which loan programs you qualify for in Virginia. This guide explains exactly how DTI is calculated, what thresholds lenders use for conventional, FHA, VA, and non-QM loans, and actionable strategies Richmond-area borrowers can use to improve their ratio before applying.