Discount Points

Devisor Reading Discount Points 1 minute Next Discount Rate

Definition:  A charge of 1% of the mortgage value; assessment by a lender to increase the interest yield to compete with the interest yield from other types of investments.

Pronunciation: \ˈdis-ˌkau̇nt\ \ˈpȯint\

Used in a Sentence:   We paid 2 discount points in order to get a lower mortgage rate.

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