For mortgages what are points?

As you can tell I am financially challenged.
Before I sign anything on the dotted line I need more information

Take a look at the Chase website www.chase.com. Click on mortgages and then on see todays rates. You will see a bunch of calculators. One of them tells you how much you will save over X amount of time by paying points up front. Like Valenia said it really only makes sense if you plan to stay in the house for a good amount of time. Other things to consider would be applying the money you would use to pay points to the downpayment of the home. Depending on the inerest rate this may work out better. You really need to work through each of the calculations to see what will work for you.
Did you find a house???

Thank you for your help ladies

No Fran not yet, we are looking AGAIN this weekend and I have promised my hubby to be a little bit more open minded. We have already been pre-approved for a mortgage when the time comes, but want to make sure I am not getting screwed in the end

Don't know a blessed thing about mortgages, just wanted to pipe in with GOOD LUCK HOUSEHUNTING THIS WEEKEND!!!!!

Just wanted to offer my good wishes for your house hunting too!

Obviously it's really hard to find exactly every desire in one single house when searching for the perfect home, but don't bend too much .. you want to be truly happy with your choice!! It's such a major investment.

I know I posted before and I sound like a broken record..but I HATE HOUSEHUNTING!!!!!!!!!!!!!!

Jeez how I wish my husband would read what you ladies write on these boards it is soooo annoying. We looked at 2 houses yesterday, neither of which I was truly in love with. Granted our budget is limited but I am so SICK of him freezing me out because we didn't find a house yet. I think it is very cruel and immature!! He says I am not grounded and with my PRINCESS attitude we will never find a house. So I asked him what houses did he like. He says 'none' I hate them all. I know he wants a house and we are tired of renting but I don't want to just buy something, I really wanted to love the house.

We agree that a decent location a and a good school location is a must, bit I really have a hard time justifying sepending all that $$$ on a house that I can't even fit furniture in.

I can just see it now, your honor my husband wants to divorce me because I haven't quite found the right house yet

Michelle,
Are you always looking in the same areas/towns? Or have you branched out at all?
Have the two of you reconsidered maybe taking a look at Orange or Putnam County? I know you were interested several months ago but then started looking on LI.

It takes time- you'll find something!

most people try to avoid points
from what I hear/know
its not a good thing