Enter your Loan amount, number of Points, Loan term in years and Annual interest rates with Points and No Points. Click the calculator icon to view the best option and View payment schedules for points and no points.
Generally, if you will have the mortgage for a short period of time, points are not advisable. However, if you plan to have the mortgage for a longer period of time, the points will pay for themselves and more. The key to deciding whether or not to pay points is whether you will have the mortgage for a shorter or longer period of time than is indicated in the Months to recover cost of points field.
The information provided by these calculators is intended only for general information and educational purposes. The calculated results are intended for illustrative purposes only; accuracy is not guaranteed. The default figures shown are hypothetical and may not apply to your situation. Please consult a financial professional for advice regarding your personal circumstances.