Discount Point Mortgage Online Calculator

Discount points are fees paid to the lender at closing to get a lower mortgage rate. Usually one disount point is equal to a .125 point mortgage rate reduction, and each point will cost about 1% of the loan amount. So fill in the boxes below to find out how much you can save, and if it makes sense or not.

Should I pay discount points?
Original Interest Rate: %
Interest Rate with Discount Points: %
Discount Points:
Total Home Mortgage Amount: $
Term of the Loan: years