A point equals 1 percent of your loan amount and is paid up front. The more points
you pay, the lower your interest rate. If you plan to keep your loan for at least
six years and have enough cash available after the purchase to cover emergencies,
you may want to consider paying points. Example: On a $100,000 fixed-rate loan, the lender offers you a 6-percent
rate with no points or 5.75 percent with 1 point. It would take 5.2 years to recoup
the $1,000 you paid up front to get the lower interest rate.
Contacting Lenders If you received a quote you feel is incorrect or you are otherwise unhappy with your experience with a financial institution listed here, please email us at . When contacting the various financial institutions listed here, please identify yourself as a customer in order to get your best available rate, which may differ from rates posted here. In addition, be aware that lenders many have different rates and different loan types posted on their own Web sites than those shown here.
Rate Quote Guidelines The rates above were collected on the dates specified. Rates are subject to change without notice and may vary from branch to branch. Rate/APR and terms may vary based on the credit worthiness of the individual and the extent to which the loan differs from the one used. Rate quotes on this table are from a variety of financial institutions, some of whom may compensate us for linking to their Web sites. Rate quotes on this table are from a variety of financial institutions, some of whom may compensate us for linking to their Web sites.
