Loan amount = Present value of future monthly payments = monthly payment * [1-(1+i)^-n]/i
i = interest rate per period
n = number of periods
at 6.34%
Loan amount = 406000
monthly payment * [1-(1+0.0634/12)^-360]/(0.0634/12) = 406000
monthly payment = 2523.63
at 6.09% and 1 point
Loan amount = 406000 * 1.01
monthly payment * [1-(1+0.0609/12)^-360]/(0.0609/12) = 406000 * 1.01
monthly payment = 2445.60
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