Disclaimer: This calculator is provided for educational and illustrative purposes only and does not constitute a loan offer, a pre-approval, or a guarantee of specific rates or terms. TJ Eardley is a licensed real estate agent, not a licensed mortgage lender or loan officer. Actual interest rates, closing costs, and APRs will vary greatly based on your specific financial profile, credit score, and current market conditions. Please consult with a licensed local mortgage professional to receive an official Loan Estimate.
Calculations utilize standard financial formulas. Small variances may occur due to rounding conventions used by different lending institutions. Always refer to your official Loan Estimate (LE) for exact figures.
Cost & APR Decoder
The figures below represent typical lender, title, and escrow fees in the Treasure Valley. This may not be a complete list of all charges due at closing. Always review your official Loan Estimate and ask questions to fully understand your costs.
1. Lender Fees (Impacts APR & Cash)
2. Third-Party Services (Impacts Cash Only)
3. Pre-paids & Escrows (Impacts Cash Only)
The APR Dollar Decoder
Lenders often quote an Interest Rate and an APR. This tool decodes that gap into the actual dollar amount of Prepaid Finance Charges associated with your loan quote.
Points vs. Price Strategy
In a competitive market, you have to decide where your cash works hardest. Should you pay Points to lower your rate, or increase your Offer Price to win the house? This tool calculates the "Break-Even Point" to help you decide.
By buying down the rate, you save money every month. If you keep the home longer than the break-even point, the buydown is the winning strategy.