Buying mortgage points when you close can reduce the interest rate, which in turn reduces the monthly payment. But each point will cost 1% of your mortgage balance. This mortgage points calculator helps determine if you should pay for points, or use the money to increase the down payment. Click on the "View Report" button to calculate the information.

Mortgage amount $   (Do not use commas.) Mortgage term     years Interest rate *      % per year Mortgage start date    Monthly Payments: $   Extra Payments Adding $  to your monthly mortgage payment Adding $  as an extra yearly mortgage payment every Adding $  as a one-time mortgage payment in  Changes paid-off date to   Find your loan: You can get personalized results based on interest rates for the location where you are looking to purchase or refinance. Use this search to compare current rates and lenders. StateAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming     >Purchase a homeRefinance a home   below $165,000$165,000 to $300,000$300,001 to $417,000$417,001 to $625,000$625,001 to $1,000,000over $1,000,000   40 yr fixed mtg30 yr fixed mtg20 yr fixed mtg15 yr fixed mtg30 yr FHA mtg10 yr fixed mtg1 yr ARM3/1 ARM5/1 ARM7/1 ARM10/1 ARM 3/1 ARM (IO)5/1 ARM (IO)7/1 ARM (IO)30 yr fixed (IO), 0 points30 yr fixed-0 point30 yr fixed-0 point15 yr fixed-0 point15 yr fixed-0 point3/1 ARM-0 point5/1 ARM-0 point3/1 ARM (IO)-0 point5/1 ARM (IO)-0 point30 yr fixed jumbo mtg15 yr fixed jumbo mtg1 yr jumbo ARM3/1 jumbo ARM5/1 jumbo ARM7/1 jumbo ARM10/1 jumbo ARM3/1 jumbo ARM (IO)5/1 jumbo ARM (IO)7/1 jumbo ARM (IO)30 yr jumbo (IO), 0 points30 yr fixed mtg refi20 yr fixed mtg refi15 yr fixed mtg refi10 yr fixed mtg refi30 yr FHA mtg refi1 yr ARM refi3/1 ARM refi5/1 ARM refi7/1 ARM refi10/1 ARM refi3/1 ARM refi (IO)5/1 ARM refi (IO)7/1 ARM refi (IO)30 yr jumbo fixed mtg refi15 yr jumbo fixed mtg refi1 yr jumbo ARM refi3/1 jumbo ARM refi5/1 jumbo ARM refi7/1 jumbo ARM refi10/1 jumbo ARM refi3/1 jumbo ARM refi (IO)5/1 jumbo ARM refi (IO)7/1 jumbo ARM refi (IO)2/28 ARM3/27 ARM2/28 ARM Refi3/27 ARM Refi   -- Posted: April 14, 2008