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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.
Investment Real Estate >Tenant Tips
When you buy an investment property, finding and keeping a tenant is very important. It's been said that a little caution during the screening process can save a lot of headaches later on.
You can rely on an intuitive sense of how a prospect feels to you. While this is an important aspect of a landlord's decision-making process, following up on your intuition by checking on the facts is definitely worthwhile. Have prospective tenants fill out an application giving employment references and the names and addresses of previous landlords. The application should also include written permission for you to run a credit check. In most areas, it is difficult and expensive to evict someone who turns out to be less than a model tenant. Only after you check their references and credit history should you allow them to move in.
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What might happen to the Empire State Building in extreme weather?
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The Empire State Building can sway several feet to either side when buffeted by a severe windstorm or rainstorm. |
 See More Real Estate Trivia > |
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Mary Charters & Associates
Mary Charters & Associates / Keller Williams Team Realty
301 Inspiration Lane
Gaithersburg, MD. 20878
Phone: 301-590-5500
Fax: 301-330-3772
Email: info@marychartersandassociates.com
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