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| Mortgage Points Calculator |
| Paying points to get a lower interest rate is not always a sound financial decision. Paying points when you get a mortgage can reduce your interest rate, but it also means you’ll need to come up with more cash at closing. Another important thing to consider is how long you plan to be in the home. This calculator helps you determine if you should pay points or use the money to increase your downpayment. We have entered some sample data to get you started. Replace them with your specific requirements and click on the calculate button. Then click on the report button to get a printable report. |
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| Term | Number of years for this mortgage. Most common terms are 15 years and 30 years. |
| Mortgage amount | Total balance for your mortgage. |
| 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 for this mortgage |
| Points rate | Annual interest rate for this mortgage any discount points. |
| Points | The number of discount points you need to receive the lower rate. Each point costs 1% of your mortgage amount. |