|
|
|
|
Mortgage Points Calculator
Mortgage Points CalculatorShould 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. This calculation assumes that the cost of buying points is financed. The loan amount with points will be higher than the loan without points by the cost of the purchased points.
- 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.
|
|
|
|
Your Wants. Your Needs. Your Lifestyle. Your Money.
Choose The Realtor® With A Reputation For Putting Her Clients First!
All Information Contained Within This Website Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. External Links Are For Your Convenience Only And Are Not Necessarily A Recommendation or Reference. All Information Provided By The External Links Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. As With Everything, Information Should Be Independently Verified.
Fair Housing Statement
Ohio Revised Code 4735.55
It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services.
It is also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by representations regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes.
The Real Estate Professionals, LLC 7162-A Liberty Centre Drive West Chester, OH 45069
Cell: Fax: About Marti | Virtual Realtor | Search MLS | Download Adobe Acrobat | Real Estate News | Real Estate Glossary | Home | Site Map | Mortgage Calculators Copyright © 2010 The Real Estate Professionals, LLC
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only. |