Rate Comparison Tool

Compare how rates & closing costs affect your monthly mortgage payment and which is better for you in the long run.

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Option 1
"No-Cost" or "Low-Cost" ?

A No-Cost or Low Cost loan has lower closing costs, but normally a slightly higher rate. This means that you can save money if you refinance or sell the home before the Break-Even Point.
%
$
mo.
Mortgage Balance after closing costs

$ -

P&I Payment

$ -

Option 2
Higher closing cost ?

A Higher Closing Cost loan has higher closing costs, but normally a slightly lower rate. In the long term, this type of loan can save you money if you keep it past the Break-Even Point.
%
$
mo.
Mortgage Balance after closing costs

$ -

P&I Payment

$ -

Payment difference

$ -

Breakeven Point:

-

Difference in Closing Costs:

$ -

  • With - , your mortgage balance after closing costs is - than - .
  • By paying more, it will take - to pay back the - difference in closing costs between the two options.
  • Tax Benefit : Your tax writeoff will be larger with the higher rate option.

Notes : For use with fixed rate loans, does not include PMI, taxes, or other fees. Meant for general illustration purposes, and is not a quote. Contact us today to get a full comparison based on your situation.