Definition of "Point"

Bailey Team real estate agent
Bailey Team, Real Estate Agent CENTURY 21 Meyer Real Estate

Loan service charge; each point equals 1% of the amount of the total mortgage loan, which must be paid up front when a home is purchased. It is a one-time, immediate charge that increases the effective cost of borrowing.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Real Estate Terms

Popular Real Estate Questions