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| Mortgage Points Formula: Cost of Mortgage Points = Loan Amount * .01 * Number of Points | |||
Mortgage Points Definition The Mortgage Points Calculator will calculate just how much your mortgage points actually cost you in dollars. Each mortgage point is equivalent to 1% of your total loan balance. Sometimes it can be confusing to try and figure out how much mortgage points will actually cost you in real dollar terms so this Mortgage Points Calculator will let you instantly convert mortgage points to dollars if you just enter in your total loan amount and the number of mortgage points. Check out some of our other mortgage calculators: Mortgage Payment, Maximum Mortgage, Reverse Mortage, and many more. How to Calculate Mortgage Points Let's be honest - sometimes the best mortgage points calculator is the one that is easy to use and doesn't require us to even know what the mortgage points formula is in the first place! But if you want to know the exact formula for calculating mortgage points then please check out the "Formula" box above. |