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Welcome > Resources > Mortgage Calculators >
Buying Points ...
Will Buying Points Save You Money?
Should you buy points? Buying points when you close your mortgage can reduce its interest rate, which in turn reduces your monthly payment. But each "point" will cost you 1% of your mortgage balance. This calculator helps you determine if you should pay for points, or use the money to increase your down payment. Click on the "View Report" button to review your information.
Definitions
- Term
- Number of years for this mortgage. Most common terms
are 15 years and 30 years.
- Mortgage amount
- Total balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage without purchasing any discount points.
- Years in home
- The number of years you expect to live in this home or the number of years before you refinance your mortgage.
- Principal and interest
- Monthly principal and interest (PI) for this mortgage.
- Points rate
- Annual interest rate for this mortgage with discount points.
- Points
- The number of discount points you need to receive the lower rate. Each point costs 1% of your mortgage amount.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Selling Your Home >Tiny Bugs and Big Problems Tiny insects can create huge problems when a house is on the market. Whether the bugs are fleas, ants or roaches, their presence can turn away prospective buyers. And so can the odor of insects.
If you have an insect problem, handle it before you place your home on the market. Consider calling in a professional to advise you on the most effective and least toxic way to exterminate your home. Be very careful if you have
an expectant mother, children, or pets in your household. Air
the house thoroughly to eliminate any lingering bug spray odors. Consider replacing moth balls with cedar chips and using boric acid or some other odorless ant and roach killers. If this sounds like a lot of trouble, remember that even if they love your house, a single cockroach can frighten off prospective buyers.
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| Q |
What famous person said this? "Real Estate is the best investment in the world because it is the only thing they're not making anymore!"
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| A |
Will Rogers, who began his career as a rope-throwing cowboy and later became a famous stage and film star. |
 See More Real Estate Trivia > |
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