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Should I pay extra points for a lower rate?

In some cases, it may benefit you to 'buy down the interest rate' by paying extra money up front in the form of discount points. Use this calculator to help determine if this makes sense for you.

Mortgage Alternatives and Assumptions

Loan amount $
Number of years (1-40)
  Loan1: Less Points Loan2: More Points
Annual interest rate: (0-30) % (0-30) %
Discount points (if any): (0-5) % (0-5) %
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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and education purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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