When buying a home, mortgage points often enter the discussion. You have the option of buying points to reduce your interest rate and monthly payment. But each point costs 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.
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.