Discount point definition
Discount point means a fee charged by a lender based on a percentage of the principal amount of the loan and payable only at the closing of the mortgage loan, which fee operates to reduce the interest rate of the mortgage loan.
Discount point means a fee charged by a lender based on a
Discount point means, with respect to any Loan and to the extent permitted by Applicable Law, a fee that is either paid by the Obligor at the time of origination, withheld from the proceeds included in the Loan Balance of a Loan or paid by the Obligor over the term of the Loan in accordance with the Obligor Loan Agreement, that the Obligor agrees to pay Seller that will result in an interest rate reduction of [***]% for each [***]% of the Loan Balance paid by Obligor.
More Definitions of Discount point
Discount point or "interest reduction fee" means a