Search

Department of Labor Federal Credit Union

Should I Pay Discount Points?
Calculator

It is possible that ‘buying down’ your interest rate on your mortgage with discount points (a form of prepaid interest) will save you money in the long run. Use this calculator to help determine if paying additional discount points in exchange for a lower interest rate is a good option for you.

Mortgage Information

Help
Help
Help

Loan 1
Enter the loan with the lowest points.

Help
Help

Loan 2

Help
Help

Loan 3

Help
Help

Results

Compare Mortgages

 
Loan 1
Loan 2
Loan 3
Interest Rate
0%
0%
0%
Help
Product Type
0
0
0
Help
Loan Term (Years)
0
0
0
Help
P & I Payment
$0
$0
$0
Help
Discount Points
$0
$0
$0
Help
Payment Difference
$0
$0
$0
Help
Breakeven (Months)
0
0
0
Help
Savings Until Sell
$0
$0
$0
Help

Information

Department of Labor Federal Credit Union

Serving employees and contractors who work for the Department of Labor, their families and associated organizations. See website for details.

200 Constitution Ave
Rm S-3220
Washington, DC 20210-0001
(202) 789-2901
www.dolfcu.org

Resources

Resources

"Mortgage Points - What's the Point?" is an insightful article from Investopedia.

The U.S. Department of Housing and Urban Development (HUD) offers a guide to "Looking for the Best Mortgage."

The HomeLoanLearningCenter.com provides step-by-step information on how to become financially literate.

CULookUp - Sponsored by NAFCU Services

CULookup.com - Sponsored by NAFCU