Welcome > Resources > Mortgage Calculators > 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.

"A model of how the Internet can facilitate the process of deciding where to send your children to school" - America's Best School Profiles by The Heritage Foundation South Carolina Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Port Royal, Beaufort and Bluffton

Working With An Agent >Target Marketing As soon as the listing agreement is signed, your real estate agent will begin the search for a buyer for your home. This means directing agents marketing efforts to target groups of individuals who are likely to be attracted to the amenities offered by your home and neighborhood. If your property is near a new office park, your real estate agent will look there for prospects who want to live near their work place. If it is an historic property, the local preservation society may have a publication in which to advertise. Your agent may call or write to the neighbors who may know someone who would be attracted to your home. When your home is being marketed professionally, your agent will do a lot more than just feed the listing into the MLS and place an occasional ad. See All Tips In The "Working With An Agent" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  In what movie did a cute extra-terrestrial take refuge in a California home on a cul-de-sac with a mountain peak towering behind it? A  Steven Spielberg's 1982 classic "E.T." was filmed in a real house on Lonzo Street, Tujunga, northeast of the San Fernando Valley. See More Real Estate Trivia >

Michael Sackman and Melissa Pender Realty Executives of Beaufort 1304 Boundary St. Beaufort, SC. 29902 Phone: 843-476-1044 Mike Phone : 843-263-3443 Melissa Fax: 843-522-1702 Mike: mikesackman@realtyexecutives.com Melissa: pender@hargray.com Licensed Broker, Acreddited Buyers Representative (ABR), Coast Guard Captain, US Navy Master Diver (ret). www.mikesackman.com is brought to you by Michael Sackman and Melissa Pender NUMBER1EXPERTS™ in real estate for Port Royal, Beaufort and Bluffton, South Carolina Read Michael Sackman and Melissa Pender's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT™
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.