Mortgage Points Calculator

Mortgage points calculator

Paying points will reduce the interest rate and your monthly payments. But points come at a price with each point equal to one percent of the loan amount.

Mortgage Calculators

This Financial Calculator requires SUN's Java? Plug-in. If you see this message you will need to download SUN's Java? Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing ?Install ActiveX Control?.
    You can also get SUN's Java? Plug-in here: Get the Java? Plug-in!

    For more information about this Plug-in please visit: SUN's Java? Plug-in
    For more information about these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions:

Term
Number of years for this mortgage. Most common termsare 15 years and 30 years.
Mortgage amount
Total balance for your mortgage. This calculation assumes that the cost of buying points is financed. The loan amount with points will be higher than the loan without points by the cost of the purchased points.
Interest rate
Annual interest rate for this mortgage without purchasing any discount points.
Years in home
The number of years you expect to live in this home or the number of years before you refinance your mortgage.
Principal and interest
Monthly principal and interest (PI) for this mortgage.
Points rate
Annual interest rate for this mortgage with discount points.
Points
The number of discount points you need to receive the lower rate. Each point costs 1% of your mortgage amount.