Mortgage points — sometimes called discount points — are fees a borrower pays a mortgage lender to lower the interest rate on the loan (“buying down the loan”). One point costs 1% of the loan amount.
Conv 15 Yr
Rate AssumptionsLoan Amount | $320,000 |
Down Payment | 25.00% |
Term | 15 Years |
Monthly P&I | $2,614.66 |
Closing Costs | $4,707.60 |
Upfront MI | $0.00 |
FICO Score | 760 |
Conv 30 Yr
Rate AssumptionsLoan Amount | $320,000 |
Down Payment | 25.00% |
Term | 30 Years |
Monthly P&I | $2,022.62 |
Closing Costs | $4,576.40 |
Upfront MI | $0.00 |
FICO Score | 760 |
FHA 30 Yr
Rate AssumptionsLoan Amount | $289,500 |
Down Payment | 3.63% |
Term | 30 Years |
Monthly P&I | $1,666.52 |
Closing Costs | $9,361.79 |
Upfront MI | $5,066.25 |
FICO Score | 680 |
VA 30 Yr
Rate AssumptionsLoan Amount | $300,000 |
Term | 30 Years |
Monthly P&I | $1,726.96 |
Closing Costs | $10,849.00 |
Upfront MI | $0.00 |
FICO Score | 740 |