Interest rate Buydowns

Does it make sense for you to pay points for your interest rate? That depends on your financial goals. How long do you plan to stay in your home? How much monthly savings can a lower rate offer you compared to how much it will cost you in the beginning?

In this scenario the points cost about $8,404 at closing (wow!) however it provides about a $400 per month savings! (even more wow!) $400 x 12months = $4,800 annual savings. That means in LESS THAN 2 years, you will 'break even' and be saving $$$$$.

*Estimates based on conventional financing 20% down and 720 credit score. Actual rate and costs may be higher. Rates subject to change without notice. Not a commitment to lend.

PLEASE NOTE THESE NUMBER ARE FOR IMFORATIONAL AND DEMONSTRATIVE PURPOSES ONLY.

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