tag:blogger.com,1999:blog-3042668857972019320.post2836352878819920050..comments2009-02-25T13:24:59.753-05:00Bethhttp://www.blogger.com/profile/00734326566763419375adagecat@gmail.comBlogger3125tag:blogger.com,1999:blog-3042668857972019320.post-37015152039871191852009-02-25T13:24:00.000-05:002009-02-25T13:24:00.000-05:00Yes, you can finance the points, and it does seem to defeat the purpose. <BR/><BR/>And I did all that figuring, including figuring out how much we'd save over the life of the loan. <BR/><BR/>What was throwing me was that we were saving a bunch more at the lowest rate, even with financing in the points. However, today's rates are showing much higher points so I think the difference will be much less if I calculate it now.<BR/><BR/>Urgh...this whole thing is driving me crazy. I can't get through to any real people at the banks, online rates are not necessarily accurate, etc. Our current rate is 6.75, and our balance is low enough that it really doesn't pay to mess with this unless we can get below 5.00%.<BR/><BR/>I have a feeling, no wait...not a feeling. I am *positive* that mortgage loan departments at banks all over the US are in a total uproar while waiting for the details of the big mortgage refi rescue plan. I may have put this off too late...Bethhttp://www.blogger.com/profile/00734326566763419375noreply@blogger.comtag:blogger.com,1999:blog-3042668857972019320.post-55340461360305393012009-02-24T15:58:00.000-05:002009-02-24T15:58:00.000-05:00Can you finance the points into the loan itself? That would seem to defeat their purpose... In fact, I wouldn't even call them "points" if they're not paid up front.<BR/><BR/>If you did/could "finance the points," it'd be a relatively straightforward equation to figure out the effective rate (and the breakeven point). Just calculate the cost of the points, then add that to the principal balance before figuring the rest.<BR/><BR/>Might take two minutes to build a rough spreadsheet... :)Jimnoreply@blogger.comtag:blogger.com,1999:blog-3042668857972019320.post-19380644775472211152009-02-23T16:00:00.000-05:002009-02-23T16:00:00.000-05:00No. You totally made my brain hurt. All I know is that we bought five years ago, we have a good rate, and it hasn't fallen enough to make it worthwhile for us to refinance. And that's about where I stop. :)amyhttp://www.blogger.com/profile/02429539000041713324noreply@blogger.com