Calculator
Points breakeven
Points buy a lower rate. Whether they pay off depends on how long you keep the loan.
What the points cost
Monthly saving
Breakeven
Net result after your years
Monthly saving times your months, minus what the points cost.
Rate and APR
APR spreads points and fees over the life of the loan, so it is usually higher than the note rate. It lets you compare offers on one number.
No points
rate / APR
With your points
rate / APR
Net result by how long you keep the loan
Points buy a lower rate for cash up front. If you keep the loan past the breakeven month, the lower rate keeps paying you back every month after. If you sell or refinance sooner, you lose what you spent on points. Read more in where to start and when points never get recouped.
Estimates only, from the numbers you enter. Not an offer of credit. Taxes, insurance and program rules vary. lowest.mortgage is not a lender.