Helpful Mortgage Points Calculator Tool
Many home buyers ask themselves if buying mortgage points is a good idea. The mortgage points calculator will give you an idea of how much an interest rate can be reduced at the time of closing. Mortgage points are tax deductible. There are pros and cons to purchasing mortgage points. Mortgage points, also called discount points, will help influence a better interest rate with your lender. There is a fine balancing act to how many points to purchase versus the money you will save over a period of time. Every situation is different and one should go over all the options and consult with a mortgage professional.
Use the mortgage points calculator to better understand how discount points can save you money over a period of time. If you are planning on staying in your home for a long time it might be a better option to pay more points upfront to reduce your interest rate over time. If you are having trouble understanding how the mortgage point calculator works or if you would like to discuss your VA home loan or refinance options call us now at 1-855-223-0705. You can also get started online by clicking here.