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How do I enter loan points when using financing?
How do I enter loan points when using financing?
Cindy Bellford avatar
Written by Cindy Bellford
Updated over a week ago

If you're using financing to purchase a property, your lender may offer an option to pay "points" to reduce the interest rate of the loan.

Alternatively, your lender may pay you "points" in the form of a credit when you accept a higher interest rate.

You can enter loan points for both of these scenarios in the Purchase or Refinance Costs sections of the property's Purchase Worksheet.


Step 1: Select "Itemize" for the Purchase or Refinance Costs Category

Open the Purchase Worksheet page, and click the Itemize button in the Purchase Costs (or Refinance Costs) section:

Purchase costs itemize button

Then turn on the Itemize Purchase Costs toggle:

Purchase costs itemize toggle


Step 2: Add an Item With the Loan Points Amount

Click the Add button at the top right of the list:

Add purchase cost button

Then enter the information about the loan points amount. Loan points are typically calculated as a percentage of the loan, so you can select Percent > Percent of Loan for the type of calculation.

You can enter both a positive amount (when you're paying points to the lender) or a negative amount (when the lender is giving you a credit).

You can also turn on the Roll Into Loan toggle if the loan points will be added to the starting loan amount, which is very common:

Loan points item worksheet

Tip: if you are using multiple loans to purchase and rehab this property, you will be able to select which loan the points are for.

After clicking the Add button, the new loan points item will be added to the list along with the other purchase costs:

Loan points item example


Note: the above screenshots were taken from our website, but the same features can be found in our iOS and Android apps as well.

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