This formula and idea was sent to me by
Michelle Bayouth
You enter the
interest rate of your loan, the points and costs and the loan amount. It
figures the rest. Note that the other costs is not very neatly defined
and not all lenders use the same items (appraisal, per diem interest, etc.)
You will have to find out what your lender includes. Here's a good
link that explains
more.