Instructions
Loan Amount: Enter the total amount of the loan you wish to calculate.
Interest Rate: Input the annual interest rate for your loan.
Term in Years: Specify the length of time over which you will repay the loan.
Discounted Interest Rate: Enter the lower rate you will obtain by paying discount points.
Discount Point Cost: Enter the cost of the discount points in a dollar amount.
The calculator will tell you the true break even based on interest saved, accounting for the lower payment, and the lower ending principal balance at any given time with the discounted interest rate.