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

Financial Center First Credit Union

Serving individuals and their family members who live, work, worship, attend school or regularly conduct business in Boone, Brown, Hamilton, Hancock, Hendricks, Johnson, Marion, Morgan, Putnam and Shelby Counties. See website for details.

7101 East 56th Street
P.O. Box 26501
Indianapolis, IN 46226-0501
(317) 916-7700
www.fcfcu.com

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.