Please update your browser.

We don't support this browser anymore. Using another one will help protect your accounts and provide a better experience. 

Update your browser

Please update your browser.

We don't support this browser anymore. Using another one will help protect your accounts and provide a better experience.

Update your browser

Close

We’ve signed you out of your account.

You’ve successfully signed out

We’ve enhanced our platform for chase.com. For a better experience, download the Chase app for your iPhone or Android. Or, go to System Requirements from your laptop or desktop.

Mortgage points calculator

Mortgage points

Using points to lower your interest rate.

What are mortgage points


When you buy mortgage points, you’re paying part of the interest on your loan up front. This shrinks your monthly payment because your lender receives a lump sum at closing and collects less money every month.

How mortgage points work


Each mortgage discount point usually costs 1% of your total loan amount, and lowers the interest rate on your monthly payments by 0.25%. For example, if your mortgage is $300,000 and your interest rate is 3.5%, one point costs $3,000 and lowers your monthly interest to 3.25%.

When to consider points


It makes sense to buy points if you plan to stay in your home for a longer period of time, as you'll be making more monthly payments over the long haul. If you plan to move or refinance within the next 2–4 years, paying for points may not be ideal.

Learn more about points

Watch this video to learn more about mortgage points. Consult a Home Lending Advisor for further details.

Mortgage points videoOpens Overlay

Move on to getting ready to close

Take the first step and get prequalified.

Ready to apply?