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How will paying points affect my mortgage interest rate?

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.

Loan and Points Information

AmountHelp Icon
TermHelp Icon
Points rateHelp Icon
Discount pointsHelp Icon
Years in homeHelp Icon

Loan without Points

Interest rateHelp Icon
by year
Information and interactive calculators are made available to you as self-help tools for your independent use. We do not guarantee the accuracy of the calculations or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding personal finance issues.

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