Michael Allen, who held at least a piece of the lead after the first four rounds, only managed a 2-under 70, but is alone in third place at 18-under- par 342.
Alex Cejka (66) and Nicholas Thompson (69) share fourth place at minus-17.
The event is being played on the Panther Lake and Crooked Cat Courses at Orange County National Golf Center & Lodge. The low 30 scores and ties will earn PGA Tour cards for 2006. The next 51 finishers will earn fully exempt Nationwide Tour cards for 2006 and the remainder of the field will receive conditional Nationwide Tour status.
Holmes played the Crooked Cat course on Sunday and began on the back nine. He parred his first three holes, then rattled off three birdies in a row from the 13th.
Holmes closed his opening nine with back-to-back birdies at 17 and 18. He made the turn at 5-under-par 31 and was suddenly in the hunt to win the tournament.
The Kentucky product birdied the third, but found trouble with a bogey at No. 5. Holmes drained a 10-foot birdie putt at the seventh, but gave the stroke back at eight when his tee ball found a bunker. He birdied No. 9 to get back to 21-under par.
'I've done most of my damage on the par 5s,' said Holmes. 'I played the rest of the course around even, maybe a couple under. I'm putting well so it works out.'
Points also played the back nine at Crooked Cat first and only made birdie at each of the second nine's par fives. His next birdie came at the par-5 first, but the 29-year-old did not really get anything going with his flat stick.
When the putter was not working, Points resorted to other means to make birdie. He chipped in for birdie at the seventh, then rolled in a 10-foot birdie putt at his last to match Holmes in first.
Scott Hend (71) and Tom Byrum (72) are knotted in sixth place at 15-under-par 345. Nick Watney (69) and Bill Glasson (70) share eighth place at 14-under-par 346.
Bubba Dickerson, the 2001 U.S. Amateur champion, shot a 5-under 67 and is tied for 10th with Joseph Alfieri (69), Ron Whittaker (70), Henrik Bjornstad (70), Mathias Gronberg (70) and Robert Garrigus (71). The group finished five rounds at minus-13.