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Should I Pay Points to Lower Interest Rate?

Sometimes it makes sense to buy points to lower your interest rate. However, in some cases the amount saved on interest is marginal; hence buying points isn't an effective use of your finances, even though purchasing points can lower your monthly mortgage payment. Calculate how much you can save when buying points. Points cost money.

Looking for more home loan calculators? Click here to view our Mortgage Calculator directory.

Points Calculator

Input
Loan Info
Amount ($)
Interest (%)
Interest with Points (%)
Loan Length (Yrs)
Additional Info
Points (%)
Savings Rate (%)
Financial Analysis
  Without Points With Points
Amount Financed $200,000.00 $198,000.00
Monthly Payment $1,247.74 $1,167.15
Monthly Payment Savings $80.59
Points Value $2,000.00
Monthly Investment Savings $8.33
True Monthly Savings $72.26
Break Even 2 Yrs 4 Mts