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Point in a mortgagePosted on:3/29/2006
| Some lenders refer to points as discount points. |
If for a $100,000 loan, the [percentage] points are 1.5, then one pays $1,500 in points because  . We have ignored other factors in a loan in order to focus on the idea of a point herein.
A point is one of the important factors in the calculation of the annual percentage rate for a mortgage.
Sometimes points are referred to as origination fees. An origination fee of 2% on a $200,000 loan is $4,000. In some cases, one has to pay points plus origination fees.
Some lenders refer to points as discount points.
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