First City Bancorp Mortgage - Providing mortgage loans and information in California

Should I Pay Points for a Lower Interest Rate?

Loan Information Loan Amount Years Interest Rate without Points Interest Rate with Points	Financial Information Points Annual Savings Rate

Results
Monthly Payment without Points:	$1,199.10
Monthly Payment with Points:	$1,167.15
Monthly Savings from Paying Points:	$31.96

Cost of Points:	$2,000.00
Savings Rate of Return:	6.000 %
Monthly Income from Investment:	$10.00

True Monthly Savings:	$21.96
Time to Recoup Cost of Points:	7 Yrs, 7 Mnts
These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.