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Simple English definitions for legal terms

mortgage discount

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A quick definition of mortgage discount:

Term: Mortgage Discount

Definition: A mortgage discount is the difference between the amount of money borrowed for a mortgage and the actual amount the lender sells the mortgage for. It is an upfront fee charged by the lender at the time of closing to cover the costs of financing. This fee is also known as a point, mortgage point, loan-brokerage fee, or new-loan fee. Usually, the buyer pays the discount, but in some cases, the seller may be required by law to pay it, such as with a VA mortgage.

A more thorough explanation:

A mortgage discount is the difference between the mortgage principal and the amount the mortgage actually sells for. It is an up-front charge by a lender at a real-estate closing for the costs of financing. This charge is also known as a point, mortgage point, loan-brokerage fee, or new-loan fee.

For example, if a homebuyer takes out a mortgage for $200,000 but the lender only gives them $195,000, the mortgage discount is $5,000. This amount is usually paid by the buyer, but in some cases, the seller may be required by law to pay it, such as with a VA mortgage.

The mortgage discount is an important factor to consider when taking out a mortgage because it can affect the overall cost of the loan. The more points a borrower pays, the lower the interest rate on the loan. However, paying more points upfront also means higher closing costs.

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i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
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Exactly. My version of that awful poem.
Dkk
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I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
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president who respects sex is crazy
windyMagician
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we had bill clinton already
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Bill Clinton, first and last black president
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it doesn't hurt its just tingly
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stretches make me think it's just soreness
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I'm sober lol
Dkk
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Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
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nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
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should i start using letterboxed again
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@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
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I will take In N Out everyday over it when I can though.
texaslawhopefully
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In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
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Indeed, indeed.
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