Mortgage Discount Points Calculator

Loan Amount
Interest rate(With Points)
% per year
Interest rate(Without Points)
% per year
Loan terms
No.of Points Paid
% per year
Monthly Payment(Without Points)  =  1124.05USD
Total Repayment (Without Points)  =  67442.76USD
Total Interest Payment (Without Points)  =  7442.76USD
Monthly Payment(With Points)  =  1113.13USD
Total Repayment (With Points)  =  66787.97USD
Total Interest Payment (With Points)  =  6787.97USD
Total Points Paid  =  2000USD
Points to Save you  =  10.92USD
Months to Recover Points  =  183Months

Mortgage Discount Points Calculator is an online personal finance planning tool programmed to perform the comparison between the mortgage payments with and without discount points. This calculator can assist you to choose the best mortgage points to reduce interest rates.

Mortgage Points are the prepaid interest paid to the lender to obtain the loan for lower interest rate. This prepaid interest often called as Discount points. This is the method used by the borrowers to buy the interest rates down. These points are generally described in percentages. One percentage of total mortgage amount is equal to one mortgage point. Borrowers can use this Mortgage Points to purchase loans and reduce the monthly repayments. The origination and discount points are different from each other. The loan and time period are the major components to purchase the mortgage points. The discount point is the up-front interest amount to lender paid by the borrower to reduce the interest rates. Contrarily, Origination fee is the amount paid by the borrower for mortgage processing fee. When it comes to online calculation, this Mortgage Discount Point Calculator can assist you to compare the different discount points to select best deal comprises the lower interest rates according to your loan amount and the period