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 Louisiana Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in New Orleans, Mandeville and Covington

Buyers Remorse >Dream Versus Reality When you decide to buy a home, you may feel resistance to fulfilling the many practical requirements that are necessary to turn your dream into a reality. An important part of a professional real estate agent's job is to help you overcome such resistance. You will need to handle a multitude of details when purchasing a property. There are numerous deadlines that require a timely response. Home purchases come with a lot of paperwork, such as the financial statement and purchase agreement. Negotiations with the seller are a standard part of the process. All of these practical "realities" can seem overwhelming. You may experience a startling range of emotions at each step of the way, from mild anxiety to full-blown "buyer's remorse". It helps to remember that everyone who has purchased a home has probably experienced similar feelings. Just take a deep breath and trust your real estate agent, who is trained to help you deal with the pressures of the home-buying process. See All Tips In The "Buyers Remorse" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Where and when was the first motel introduced on the American commercial real estate scene? A  The first motel, appropriately named the "Motel Inn", opened in San Luis Obispo in 1925. See More Real Estate Trivia >

Team LaPlace Keller Williams Realty - Mandeville 1522 West Causeway Approach Mandeville, LA 70471 Phone: 985-727-7100 Fax: 985-727-7001 Email: dianelaplace@NUMBER1EXPERT.com www.TeamLaPlace.com is brought to you by Team LaPlace NUMBER1EXPERT™ in real estate for New Orleans, Mandeville and Covington, Louisiana Read Team LaPlace'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.