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What is a discount point?

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What is a discount point?

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A discount point is paid to the lender to permanently buy down or lower an interest rate. It is usually a percentage of the loan amount.

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A discount point is a percentage of the loan amount you will pay to buy your interest rate lower. You can buy to a lower rate with discount points, which can sometimes save you money over the life of the loan.

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A discount point is paid to the lender to permanently buy down or lower an interest rate. Each point is 1% of the loan amount.

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When inquiring about rates, be sure to check if the quoted interest rate reflects payment of points. Many loan programs allow you to receive a discounted interest rate by paying a fee in points and/or origination fees. One point equals 1% of the loan amount, and the more points you wish to pay, the more you can discount your rate. Paying points is not a requirement; it’s just an option JC Capital offers to accommodate the immediate or long-term monthly payment concerns of our customers.

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A discount point is a prepaid fee used to reduce the interest rate. One point equals 1% of the loan amount. Return to the top of page.

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