Should I Pay Points - Refinance?

Topics:
Quantitative Analysis,
Tools and Templates
Tags:
Finance,
Financial Planning,
Financial Services,
Interest Rate,
Internet,
Internet Brands
Source:
Internet Brands

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Overview: 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 tool 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.

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Format: HTML | Date: Jan 2009

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