Mortgage rate vs lender-credit calculator

Enter your loan and the options your lender quoted. See when paying a higher rate for a credit comes out ahead of the par loan, and when it does not, by the month you refinance. Drag the slider under the graph.

Loan amount ($)The amount you're financing, not the home price. For a purchase it's the price minus your down payment; for a refinance it's your current payoff balance. Find it as Loan Amount at the top of your Loan Estimate or Closing Disclosure.

Par rate (%)The baseline rate with no points paid and no lender credit, your reference point. The options below trade a higher rate for a credit. On a Loan Estimate it's the rate where Points and Lender Credits are both $0; ask your lender for the par rate.

TermHow long you repay the loan, in years (usually 30 or 15). Shown as Loan Term at the top of your Loan Estimate. A shorter term raises the monthly payment but cuts total interest.

Refi allowed after (mo)Months you must wait before refinancing, the "seasoning" period. Many loans require about 6 on-time payments; some require none. Confirm with your lender or servicer. The chart's shaded band marks this locked window.

Higher-rate options — each buys a lender credit at closing:

Rate (%)Credit ($)

↕ Refinance after

Colored ticks on the $0 line mark each option's break-even (where its credit stops beating the par loan). They shift with the cash/true toggle.