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 New Jersey Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Short Hills, Millburn, Maplewood and Livingston

Titles >Timeshare Title Timeshare ownership is a popular vacation home investment currently held by over three million American households. A timeshare is joint ownership in a vacation resort property that gives you an exclusive right to occupy a condo unit for a specified interval each year. What might you need to know about timeshare ownership if you are considering making such an investment? There are two ways to approach timeshare. One is to buy a right-to-use membership that allows you to stay in a particular condo for an annual block of time for a number of years. You can also choose to trade your right-to-use time with someone else, perhaps someone who owns timeshare in a different location you yearn to visit. Simple-fee ownership is more like conventional homeownership -- you purchase a slice of the property and receive title by means of a deed. The property is legally yours. You can obtain insurance on the time-share property, sell or lease it, or have it transferred by will. Deeded timeshares can be also willed to family members. Minimize the stress of booking yearly accommodations by purchasing ownership in a timeshare resort in one of 81 different countries. See All Tips In The "Titles" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What was the world's highest viewing platform before the opening of the Empire State Building in 1939? A  The Eiffel Tower, built between 1887-1889, was for 42 years the highest viewing platform in a man-made structure. See More Real Estate Trivia >

Marlisa Zebaida Keller Williams Realty PREMIER PROPERTIES 488 Springfield Avenue Summit, NJ 07901 Cell: 973-699-4236 Fax: 973-597-1317 MarlisaZebaida@NUMBER1EXPERT.Com www.njpremierproperties.com is brought to you by Marlisa Zebaida NUMBER1EXPERT™ in real estate for Short Hills, Millburn, Maplewood and Livingston, New Jersey Read Marlisa Zebaida'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.