Prequalify Online Pay My Mortgage Login
Calculators

Mortgage Points Calculator

Should you buy points? Buying points when you close your mortgage can reduce its interest rate, which in turn reduces your monthly payment. But each 'point' will cost you 1% of your mortgage balance. This 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.

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.

Not sure where to start? We can help.

Talk with one of our mortgage experts today. Simply fill in your contact information and we’ll quickly get back in touch to answer all your questions.

-OR-

Yes, I'd like to receive information from Certainty Home Loans.