Points

A "point" is one percent of the loan amount, typically paid in cash to the lender as a fee. So, if your loan is $300,000, one "point" equals $3,000 paid to the lender. There are several different kinds of points. There are "discount points," where every point you pay lowers your interest rate by a certain amount. Learn more about points and what they mean for your loan.

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Paying Points When Refinancing

Added October 3, 2005 by Ilyce R. Glink

When taking out a first mortgage or refinancing, you may want to consider paying "points." A "point" is one percent of the loan amount, typically paid in cash to the lender as a fee. There are several different kinds of points. There are "discount points," where every point you pay lowers your interest rate by a certain amount. The lender may charge you a point or two as a flat fee as well.

Read More: Paying Points When Refinancing

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Loan Tips For Borrowers

October 8, 2008

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What should you consider when getting a mortgage loan? The mortgage loan should fit your needs and lifestyle and allow you to sleep at night. For more information on mortgage loans watch this Expert Real Estate Tips segment and check out www.ThinkGlink.com.

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