Mortgage Points Calculator
Find out whether buying discount points to lower your mortgage rate pays off: the cost, the monthly saving and how many months until you break even.
Result
Break-even after
60months
- Cost of the points
- $3,000.00
- Monthly saving
- $50.11
- Payment without points
- $1,995.91
- Payment with points
- $1,945.79
- Net saving if you keep the loan to the end
- $15,040.75
Common questions
Are mortgage points worth it?
Only if you keep the loan past the break-even point. If you might sell or refinance within a few years, the upfront cost usually isn’t recovered.
How much does one point cost?
One point is 1% of the loan amount, so one point on a $300,000 loan costs $3,000.