Also referred to as mortgage points or points, this is the amount paid to maintain or lower the charged interest rate. They are a one time fee that is usually paid at the time the mortgage is first arranged or during a refinance. Each point is equal to one percent of the loan amount.
Discount points (or points)
Also referred to as mortgage points or points, this is the amount paid to maintain or lower the charged interest rate. They are a one time fee that is usually paid at the time the mortgage is first arranged or during a refinance. Each point is equal to one percent of the loan amount.
