Home Search Homes Buying a Home Maintaining Your Home About aCondo4u Interest List Front Desk : :  Getting Prepared : :  How Much Can I Afford : :  Financing Options : :  PreQualify : :  The Loan Process : :  Loan Programs : :  Glossary of Terms : :  Mortgage Calculators : :  Appointment Request : :  Loan Application Home > Buying a Home > Mortgage Calculators > Mortgage Points Calculator Mortgage Points Calculator 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. Mortgage Points Calculator Results TITLE_MESSAGE RESULTS_MESSAGE This assumes that you stay in your home for YEARS_IN_HOME years without refinancing your mortgage. Loan with Points Summary Term TERM Loan amount LOAN_AMOUNT Monthly payment POINTS_MONTHLY_PI Interest rate DISCOUNT_POINTS_RATE Discount points DISCOUNT_POINTS_PERCENT Discount points cost DISCOUNT_POINTS_AMT Total payments POINTS_TOTAL_OF_PAYMENTS after YEARS_IN_HOME years Home equity at move out POINTS_HOME_EQUITY_AT_MOVEOUT after YEARS_IN_HOME years Loan without Points Summary Term TERM Loan amount DOWNPAYMENT_LOAN_AMOUNT Monthly payment DOWNPAYMENT_MONTHLY_PI Interest rate INTEREST_RATE Total payments DOWNPAYMENT_TOTAL_OF_PAYMENTS after YEARS_IN_HOME years Home equity at move out DOWNPAYMENT_HOME_EQUITY_AT_MOVEOUT after YEARS_IN_HOME years Payment schedule **REPEATING GROUP** Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not 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. "> This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN's Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below: Get the Java(TM) Plug-in! Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not 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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