Rehoboth Beach, Lewes and Milton real estate and homes for sale in Delaware - Beth Dorman, REALTOR® REALTOR® Logo - NUMBER1EXPERT NUMBER1EXPERT™ Logo
Search All Local Listings
Short Sale For Sellers
Oceanfront Listings
Bayfront Listings
Rehoboth Listings
Lewes Listings
Fenwick-Bethany Beach Listings
Short Sale Listings
Local Blog
Preferred Vendors
Testimonials
Weekly News
Stay Connected
Stay Connected Facebook Twitter Linked-in Stay Connected
Real Estate - Homes - NUMBER1EXPERTS Sell More!
Beth Dorman is one of The Top Selling Real Estate Experts™
Find Out More >
Mortgage Calculators
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.

This Financial Calculator requires a Browser with Java Support



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.



Real Estate Tips
About Appraisals >Fair Market Value

What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?

The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.

By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.

See All Tips In The "About Appraisals" Category >
See Complete Library Of Hundreds Of Tips In 30+ Categories >

Real Estate Trivia
Q 
Where is the world's largest art gallery?

A 
At the Winter Palace and Hermitage in St. Petersburg, Russia, visitors would have to walk 15 miles to see the 322 galleries which house almost 3 million works of art.
See More Real Estate Trivia >


Print This Page Send To A Friend


Beth Dorman, REALTOR®, real estate agent and broker for Rehoboth Beach, Lewes and Milton, Delaware home listings, property and land for sale - NUMBER1EXPERT

Beth Dorman
Coldwell Banker Resort Realty

20184 Coastal Hwy
Rehoboth Beach, DE 19971
Office: 302-227-5000
Cell: 302-381-2777
Toll Free: 800-800-4134
BethDorman@NUMBER1EXPERT.com
beth@bethdorman.com

My focus is on personalized service. I listen very carefully to my clients so that I can assist them with their needs and wants and make every transcation as smooth as possible.

CDPE CRS ePro wcr


www.DEbeachHomesOnline.com is brought to you by Beth Dorman
NUMBER1EXPERT in real estate for Rehoboth Beach, Lewes and Milton, Delaware

Read Beth Dorman's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge



USA and Canada Real Estate - NUMBER1EXPERT
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.

www.DEbeachHomesOnline.com is brought to you by Beth Dorman