Point
A fee equal to one percent of the loan amount, paid to the lender at closing. On a $700,000 loan, one point costs $7,000; borrowers may pay points to lower the interest rate.
A fee equal to one percent of the loan amount, paid to the lender at closing. On a $700,000 loan, one point costs $7,000; borrowers may pay points to lower the interest rate.
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