The city of Detroit is slowly recovering from the devastating affects of the economic collapse of a few years ago. Efforts to rebuild the city and make the neighborhoods safer, involve a few banks tha have teamed together to help make home ownership easier when purchasing within Detroit city limits. The program will fast track community vitalization in various ways.

You're looking to get into real estate, so you start looking into financing options. Unless you have upwards of about two hundred thousand dollars, chances are you will be applying for a loan. There are several sources to choose from when obtaining a loan: Conventional, Commercial, Private, and Hard Money. You go through the application process, your credit score is sufficient, you secure a favorable interest rate, calculate your down payment, and then the lender mentions Mortgage Points. The expression on your face can't hide the fact that you have no idea what Points are all about.

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