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Mortgage Rate Calculator – Should I Pay Points

Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces your monthly interest rate and total interest due over the life of a loan. Use our calculator to figure out the cost and effective saving of loan points as well as the minimum amount of time it will take to recover your loan points.

Should I Pay Points?
	Loan Information
		Zip Code
		Loan Amount
		Term in Years
		Rate without Points
		Rate with Points
		Loan Points
		Savings Rate(%)

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Fill out a quick and easy one step form and you will be contacted by up to 4 mortgage lenders regarding your loan.

*These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

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Daily Rate Averages
30 Yr Fxd	4.97 %
15 Yr Fxd	4.63 %
7/1 ARM	6.25 %
3/1 ARM	6.00 %
5/1 ARM	6.13 %
Full Rate Averages Update: 1/8/2009
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