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Buying Points ...
Will Buying Points Save You Money?
Should you buy points? Buying points when you close your mortgage can reduce its interest rate, which in turn reduces your monthly payment. But each "point" will cost you 1% of your mortgage balance. This calculator helps you determine if you should pay for points, or use the money to increase your down payment. Click on the "View Report" button to review your information.
Definitions
- Term
- Number of years for this mortgage. Most common terms
are 15 years and 30 years.
- Mortgage amount
- Total balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage without purchasing any discount points.
- Years in home
- The number of years you expect to live in this home or the number of years before you refinance your mortgage.
- Principal and interest
- Monthly principal and interest (PI) for this mortgage.
- Points rate
- Annual interest rate for this mortgage with discount points.
- Points
- The number of discount points you need to receive the lower rate. Each point costs 1% of your mortgage amount.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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For Sale By Owner >Are You Curious
Perhaps you have no plans to buy or sell a home right now, but you are curious about your possibilities. Real estate professionals can answer any questions you may have about the complexities of a real estate transaction and provide you with information to help you make a decision.
Call or send an email if you would like to discuss the local real estate market and determine whether it is a good time for you to buy or sell. If you are a first-time buyer, you may have questions about legal descriptions, fair housing laws or sources of financing. You may be curious about how sales prices are set.
A real estate agent's job is diverse, and the best agents are excellent sources of information. Each day, real estate agent's are actively involved with mortgage lenders, attorneys, surveyors and taxing authorities, discussing the latest developments in our ever-changing marketplace. Finding the right real estate agent is like finding the right physician. The help of a professional can help satisfy your curiosity. Call or email with your real estate questions.
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| Q |
What has a tremendous impact on the U.S. economy, comprising between $10-$15 trillion of the nation's wealth?
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| A |
Real Estate--it goes through cycles, but still has a long-term record of strong investment return. |
 See More Real Estate Trivia > |
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