I’m helping my Dad compare rates among loans for a property he recently signed on. In the purchase agreement, it states “buyer shall pay discount points not to exceed 0% of the loan amount.” Since my Dad’s English is limited, I’ve been looking online for as attractive of an offer as he can get currently. I found some good rates, but many of them include paying the discount points in exchange for a lower rate. Does this mean we cannot select any offers with discount points? It doesn’t make sense because the seller wouldn’t pay any closing costs anyway, right?
I practically have no experience with home buying/selling so any help is appreciated