KLOORAMortgage Points Calculator
Find out if buying discount points to lower your rate pays off, and the break even month.
Quick answer: Mortgage Points Calculator: Find out if buying discount points to lower your rate pays off, and the break even month. Everything runs in your browser, so nothing you enter is uploaded or stored.
How to use Mortgage Points Calculator
- Enter your values in the fields.
- The results update instantly as you type.
- Note or copy the numbers you need.
Features
- Instant results
- Free, no signup
- Runs in your browser, nothing is uploaded
- Works on phone and desktop
How it works
Cost of points = loan x points / 100. Break even = cost / monthly payment saving.
Worked example
One point on 350,000 costs 3,500 and saves about 58 a month, so break even is around 60 months.
Frequently asked questions
What is a point?
One point costs 1 percent of the loan and usually lowers the rate by about 0.25 percent.
When does it pay off?
When you keep the loan longer than the break even months.
Is the Mortgage Points Calculator free?
Yes. It is free, needs no signup and works on any device.