# Are points and fees included in the monthly payment when looking for mortgages?

When searching for a mortgage, (for example, on bankrate.com) you are usually given a list, with each mortgage offer including (details made up):

``````APR     = 3.6%
RATE    = 3.5%
Term    = 15 Years
\$/Month = \$1,500
Points  = 1.0
Fees    = \$1,200
``````

What I'm trying to understand is a whether the final payable amount (\$1,500*12*15=\$270,000) includes only originally-specified principal and interest on it? Or does it also include the fees? And the cost of Points? Or are fees and points in addition to \$270,000 listed in the offer?

• I'm assuming such a format is standard; but if not; i'm fine if the answer is specific to bankrate.com Dec 6, 2017 at 0:12
• Usually points & fees are paid up front, at least in my (admittedly limited) experience, although they can be included if you raise the mortgage amount. E.g. if you're putting \$100K on the house, your total mortgage would be \$102.2K. So the default here would likely be to pay \$2200 up front, and have a \$100K mortgage. Dec 6, 2017 at 2:34
• Please provide an actual example including nominal loan amount, instead of "details made up". It is easy (for someone who understands the relevant formulas) to determine the answer to your question based on the actual numbers. Dec 6, 2017 at 5:26