Mortgage Points Calculator

Should you buy points? Use the mortgage points calculator to see how buying points can reduce your interest rate, which in turn reduces your monthly payment. But each "point" will cost you 1% of your mortgage balance. The mortgage points calculator helps you determine if you should pay for points, or use the money to increase your down payment. Click on the "View Report" button to review your information.

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For more information about these financial calculators please visit: Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Buying points can save you $23,318.41 over 10 years.

*indicates required.

Mortgage with points:

Monthly payment $2,212.24

Mortgage amount:*This entry is required.Enter an amount between $0 and $250,000,000

Term in years:*This entry is required.

Discount points:*This entry is required.Enter an amount between -25 and 25

Points rate:*This entry is required.Enter an amount between 0% and 25%

Mortgage without points:

Monthly payment $2,398.31

Loan amount:

$343,000.00

Interest rate:*This entry is required.Enter an amount between 0% and 50%

Mortgage Points Calculator Inputs
Calculate totals for 10 years in home, show amortization by year

Totals after 10 years in your home Stacked Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Totals after 10 years in your home.

Principal Balance by Year Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Principal Balance by Year

Definitions

Term

Number of years for this mortgage. Most common terms are 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.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.