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Mortgage Points Calculator
You can use this mortgage points calculator to compare a loan with no points versus a loan where you are paying points. The calculator figures out how much you will save off your monthly mortgage by paying points and how many months it will take to recover the points paid.
Input
Financial Analysis
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Without Points
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With Points
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Amount Financed
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$200,000.00
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$198,000.00
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Monthly Payment
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$1,247.74
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$1,167.15
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Monthly Payment Savings
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$80.59
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Points Value
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$2,000.00
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Monthly Investment Savings
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$8.33
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True Monthly Savings
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$72.26
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Break Even
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2 Yrs 4 Mts
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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© 2006 Somerset Investors Corp. All rights reserved.
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