Hiway 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

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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

Hiway Federal Credit Union

Hiway Federal Credit Union (Hiway), based in St. Paul, Minn., was founded in 1931 to serve the employees of the Minnesota Highway Department. Today, we welcome new membership from select employee groups, individuals and businesses within the metro community area.

111 Empire Dr
Saint Paul, MN 55103-1860
651.291.1515
hiway.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.