FivePoint 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
Enter the loan with the lowest points.

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Loan 2

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Loan 3

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Results

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
$0
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Discount Points
$0
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Payment Difference
$0
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Breakeven (Months)
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Savings Until Sell
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Information

FivePoint Credit Union

If you live, work, worship or attend school in Jefferson, Orange, Hardin, Jasper or Newton counties or within the boundaries of Conroe ISD or Magnolia ISD, you are eligible to join. Just stop in at any of our six stores and become part of the family. See website for details.

3700 Skyline Drive
P.O. Box 1366
Nederland, TX 77627
800-825-8829
www.5pointcu.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.