Unlocking homeownership savings for tech executives.
Mark Davidson, a 55-year-old VP Engineering with $3.2M in RSUs, was purchasing a $1.5 million home in California. He was presented with the option to buy mortgage points but was unsure if the upfront cost would be offset by the long-term savings, especially considering his plans to pay off the mortgage early or potentially relocate within 5-7 years. He needed a clear break-even analysis.
Using Golden Door Asset's Mortgage Points Calculator, Mark inputted the loan amount ($1.2M), interest rate (6.75%), point cost (1% of loan amount per point), number of points considered (1-3), and his expected time horizon (7 years). The calculator clearly showed that purchasing 2 points would save him approximately $65,000 in interest over 7 years, exceeding the initial point cost ($24,000) and making it a worthwhile investment. He also used the Tax Equivalent Yield Calculator to assess the after-tax cost of the points.
The Mortgage Points Calculator allows advisors to input loan details and instantly visualize the break-even point for different point scenarios. Coupled with the Tax Equivalent Yield Calculator, advisors can provide clients with a comprehensive after-tax cost analysis.
$65,000 in interest savings over 7 years due to a strategic mortgage point purchase.
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