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Northeast Community 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

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Loan 1
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Loan 2

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Loan 3

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Compare Mortgages

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

Northeast Community Credit Union

Northeast Community Credit Union is proud to be a federally-insured community credit union serving the individuals of Carter, Washington, Johnson, Sullivan and Unicoi counties. Anyone that lives, works, worships, or attends school in our area may join the credit union with a $25 initial deposit into a share account. See website for details.

980 Jason Witten Way
Elizabethton, TN 37643
(423) 547-1200
www.BeMyCU.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