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Resources > Glossary > Points

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Points

Phonetics: points    \'pȯ:ints\

Function: noun

Definition 1:
Points are prepaid interest assessed at closing by the lender. Each point is equal to one percent of the loan amount, e.g. three points on a $100,000 mortgage would cost $3,000.

Thesaurus / Related Terms
Broker
Points
Commission