Can someone explain discount Points?

Points: 1% percent of the loan amount (can be either discount or origination)Fees: Closing costs associated with your lone (title, attorney, appraisal, etc).Origination: Payment to the Mortgage Professional AND lender assisting with yoru financing (your mortgage consultant gets only a portion of this fee)Discount: Points (or portions thereof) to buy down the interest rate to a lower level.Hope this helps!

Feel free to contact me for a no cost, no obligation mortgage consultation. Getting a mortgage in the Bronx can be very costly if you don't work with the right lender who specializes in this market and knows exactly what to look for.We can go over the various terms and decide which loan structure is best for you. I can be reached through email at chris@myqcfunding.com

Refinance fees are super high in NY. Highest in the nation. compare lenders and look at the lenders charges, doesn't matter what they are called. whoever has the lowest charges at the same rate, or lower rate if thats what you want, go with it. good luck.