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
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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

Columbia-Greene Federal Credit Union

Serving employees and employee family members who work for select employers in the Columbia and Greene counties New York area. See website for details.

207A Green St
Hudson, NY 12534-2703
(518) 828-5216
www.cgfcu.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.