Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

mortgage discount

Read a random definition: wreck

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.

mortgage deed | mortgage foreclosure

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
14:38
I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
14:40
suck what? (:
Dkk
14:42
suck at predicting
14:43
boooooo
1a2b3c4d26z
14:45
hi guys
1a2b3c4d26z
14:45
how is everyone doing this fine friday
1a2b3c4d26z
14:46
Tonight im going to go for a run and lift some weights and then eat some dinner (probably a burrito) and then I'm going to watch a scary movie with my girlfriend (probably Longlegs). I'm so excited :)
1a2b3c4d26z
14:46
What is everyone else doing tonight
1a2b3c4d26z
14:47
Besides YM of course
14:47
Yoooo I’m a lifter too
14:47
I'm all good, I'm tipsy in Zanzibar finishing an app and laughing my ass off to this:
babycat
14:48
renard what are you drinking?
LSD+ is ad-free, with DMs, discounts, case briefs & more.