Florida Mortgage Rates
Bill Meyers,  Loan Consultant
Phone: 239-566-8484
Toll Free 877-994-9589

Naples Florida and Annapolis Maryland

Home         Mortgage Rates and Calculator

Calculator For Comparing Mortgage Quotes
Compare rates, monthly payments and calculate the cost of points  (amortizing loans only)
Should you pay points?  It really depends on how long you plan to keep the mortgage and the rates and points for each option.  Not only can you pay points for a reduced rate, you can also get points back as a credit towards your other closing costs.  Fill in the white fields to find out which option is best for you.  This calculator helps you determine the net payment and points costs over the time you expect to keep the loan.  You will need to know the current rate and points quote for today for the rate with 0 points, the rate and points if paying points and the rate and negative points (cash credit from lender).  Be sure to have all 3 quotes for the same loan program.  Call me with any questions at  toll free 877-994-9589 (cell phone) .
Instructions:  enter your loan information in this section in the white fields.  The results will show in the next section for regular amortizing loans and in the following section for interest only loans.
   
Enter loan amount Enter rate with 0 or minimum points Enter points for minimum or 0 point quote
       
Enter term of loan in years   Enter rate with you paying points   Enter points
       
How many years will you keep mortgage?      Enter rate with points paid to you Enter number of negative points paid to you (use minus sign)
         
Results for an amortizing loan, if interest only, see chart below this one:
Results below include the costs of monthly payments for the time that the loan is in effect plus the cost of points paid at closing minus the normal rate of principal amortization.
0 or low points results Paying points results Getting points back as credit results
Monthly payment Monthly payment   Monthly payment
Cost of points   Cost of points   Cost of points
Cost of payments   Cost of payments   Cost of payments
Amount of principal reduction   Amount of principal reduction Amount of principal reduction
Net cost   Net cost   Net cost
     
Results if this is an interest only loan:
The interest only loan does not have the benefit of principal reduction but the monthly payments are lower
0 or low points results Paying points results Getting points back as credit results
Monthly payment Monthly payment   Monthly payment
Cost of points   Cost of points   Cost of points
Cost of payments   Cost of payments   Cost of payments
Amount of principal reduction  N. A.    Amount of principal reduction  N. A.  Amount of principal reduction  N. A. 
Net cost   Net cost   Net cost
Call Bill Meyers at  toll free 877-994-9589 (cell phone)  with your questions or comments or email bill
Please note that many lenders limit your negative points (credit at closing) to the amount of your actual closing costs excluding pre-paid items.  Closing costs other than points are not considered in this form. This form is believed to be accurate but cannot be guaranteed
 
 
   

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Questions about this website?  Call Bill Meyers at toll free 877-994-9589

This website is not a solicitation for mortgage brokers
Rates vary with geographic location, lender, transaction type, credit scores and other factors
APR is abbreviation for annual percentage rate
Rates change frequently and these rates may not reflect the latest market conditions
Expressed interest rate may change or be unavailable at commitment or closing
Most rates based on primary residence, purchase transaction
Cash out refinance rates may be slightly higher
Some loans may have pre-payment penalties
Rates on some programs may require higher down payments
This is only a brief summary of rates and programs and possible fees, call for additional information on underwriting requirements
and program limitations.  Guidelines posted here are general in nature and subject to change without notice. 
Rates must be locked by phone or in person.
Mortgage calculators are believed to be accurate but results are not guaranteed
All information published on this web site is believed to be accurate but cannot be guaranteed, errors may occur
This site has been built and is maintained by Bill Meyers

Bill Meyers is employed as a  mortgage loan consultant for one of the nation's largest residential lenders.  Bill works as an employee and not a mortgage broker.  This is Bill's personal web site and not the official web site of  any bank or mortgage company.  Please consider all information posted on this site to be general in nature and representative of mortgage rates and policies that may be available from various sources.  Bill is located in Naples Florida during the winter months and Annapolis Maryland during the summer.  Bill can be reached on his cell phone at   toll free 877-994-9589 (cell phone)  or email


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