While utilizing the closing cost estimator, it’s essential to understand that the dollar amounts presented are estimations and are not guaranteed; therefore, the actual dollar amounts may vary. Certain fees are determined by a Title Company. The estimates provided are solely for illustrative and educational purposes.
You have the option to pay points to reduce the interest rate throughout the duration of your loan. Points effectively decrease your interest rate in exchange for higher closing costs. Each point corresponds to 1% of the loan amount. Opting to pay a portion or the full amount of a discount point will result in a lowered interest rate; the extent of the interest rate reduction depends on the prevailing market conditions.