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What is a “Discount Point”?

Discount points are a one-time loan cost, where one discount point carries a cost equal to one percent of the first mortgage loan. For example, 1 discount point on a loan of a conforming loan limit of $650,000 would carry a cost of $6,500 to be paid at closing.

Discount points, are often tax-deductible, and can be paid with cash or added to the total loan amount.

About Susanna Grubb

Susanna can help you sell house or condo and buy Florida homes for sale. Specialize in Stuart to Jupiter and Palm Beach Florida waterfront homes, country club homes and beach condos. AREAS: Palm Beach, Martin & Broward Counties. FEATURED COUNTRY CLUBS: Admirals Cove, Ballenisles Country Club, Country Club at Mirasol, Frenchmans Reserve, Jonathan's Landing, Jupiter Country Club, Jupiter Hills Club, Old Palm Golf Club and Tequesta Country Club.