Rates_versus_Points.gsheet
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Rates versus Points
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30-Year Fixed Rate, $320,000 Loan – 360 Payments – 740+ Credit Score – 20%+ Down
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RateAPRLoan Origination FeePoints*Total Closing CostsMonthly PaymentTotal Costs
Total Interest
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4.250%4.339%$4,406.401.377%$10,204.90$1,574.21$566,715.60$246,715.60
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4.375%4.512%$2,448.000.765%$8,246.50$1,597.21$574,995.60$254,995.60
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4.500%4.584%$448.000.140%$6,246.50$1,621.39$583,700.40$263,700.40
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4.625%4.697%$0.000.000%$4,576.10$1,645.25$592,290.00$272,290.00
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4.750%4.823%$0.000.000%$2,937.70$1,669.27$600,937.20$280,937.20
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4.875%4.948%$0.000.000%$1,657.70$1,693.47$609,649.20$289,649.20
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5.000%5.074%$0.000.000%$441.70$1,717.83$618,418.80$298,418.80
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5.125%5.199%$0.000.000%$0.00$1,742.36$627,249.60$307,249.60
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15-Year Fixed Rate, $320,000 Loan – 180 Payments – 740+ Credit Score – 20%+ Down
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RateAPRLoan Origination FeePoints*Total Closing CostsMonthly PaymentTotal Costs
Total Interest
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3.500%3.832%$4,531.201.416%$10,329.70$2,287.62$411,771.60$91,771.60
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3.625%3.876%$2,777.600.868%$8,576.10$2,307.32$415,317.60$95,317.60
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3.750%3.951%$1,680.000.525%$7,478.50$2,327.11$418,879.80$98,879.80
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3.875%3.998%$0.000.000%$5,753.70$2,347.01$422,461.80$102,461.80
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4.000%4.124%$0.000.000%$4,697.70$2,367.00$426,060.00$106,060.00
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4.125%4.249%$0.000.000%$3,344.10$2,387.10$429,678.00$109,678.00
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4.250%4.375%$0.000.000%$2,537.70$2,407.29$433,312.20$113,312.20
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4.375%4.500%$0.000.000%$1,273.70$2,427.59$436,966.20$116,966.20
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4.500%4.625%$0.000.000%$268.90$2,447.98$440,636.40$120,636.40
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4.625%4.751%$0.000.000%$0.00$2,468.47$444,324.60$124,324.60
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Source: http://www.aimloan.com 24-September-2018 (rates change daily)
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*Notes:
The www.aimloan.com website does not report the points as a percentage. The points are reported as a
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a dollar amount. You must select the icon on the right entitled [Details]. The third line will either say
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[Guaranteed Points] or [Guaranteed Lender Credit]. If you see [Guaranteed Points], then you must divide
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the amount you see under [Guaranteed Points] by the loan amount to get the percentage points. If you
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see [Guaranteed Lender Credit], this means that your points and the corresponding lender origination fee
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are both zero. The mortgage company is giving you a credit on your loan for taking a higher interest rate.
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