What is a discount fee on a mortgage loan?

Answer A discount fee, also known as points, is the fee paid to a mortgage lender to purchase a lower interest rate. This is also referred to as buying down the interest rate. The amount of the fee is det... Read More »

Top Q&A For: What is a discount fee on a mortgage loan

What is a mortgage discount?

A mortgage discount point is a payment at the closing of a home sale that is used to reduce the lending rate of the mortgage. The points are generally a percentage of the loan amount.Source:BankRat... Read More »

Is it better to get a shorter loan mortgage term or prepay on a longer loan?

On One Hand: Short Tem Mortgages Tie Your Hands.A short term mortgage forces you to spend more money on your house payment than you would under a longer term loan. This means that there is less mon... Read More »

Is it Better to Get a Shorter Loan Mortgage Term or Pre-Pay on a Longer Loan?

There are many benefits to listed job descriptions. It makes it easier to fill the position and gives employees a clear description of what they would do on a day to day basis if hired. However, th... Read More »

What is a mortgage discount point?

Mortgage points are a cost paid when you close your mortgage. The more points you pay the lower your interest rate will be.SizeEach mortgage discount point costs 1 percent of the loan. For example,... Read More »