How this calculator works
Neither option is free. The upfront saving of lender-paid compensation is repaid through the higher payment; the break-even month tells you which is cheaper for your timeline.
Loans this applies to
Home loan
Conventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
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Home loanRate-and-Term Refinance
A rate-and-term refinance replaces your mortgage with a new one to change the rate, the term or the loan type, without taking cash out.
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FAQ
Is the Lender-Paid vs Borrower-Paid Calculator free?
Yes. It is free, needs no sign-up and does not check your credit.
How accurate is the Lender-Paid vs Borrower-Paid Calculator?
It uses the same formulas lenders use, but results are estimates. Your actual terms come from your Loan Estimate or term sheet.
Estimates only, for educational use. Not a loan offer or commitment to lend.