discount points
More commonly referred to as just 'points,' these are an up front fee paid to the lender, with each point equal to 1% of the total loan. Typically potential borrowers will pay more points for lower credit scores and less points for a high credit score.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
discount
Noun: discount, price reduction, deduction (the act of reducing the selling price of merchandise)
Noun: discount rate, discount, bank discount (interest on an annual basis deducted in advance on a loan)
Noun: rebate, discount (a refund of some fraction of the amount paid)
Noun: deduction, discount (an amount or percentage deducted)
Verb: dismiss, disregard, brush aside, brush off, discount, push aside, ignore (bar from attention or consideration) "She dismissed his advances"
Verb: discount (give a reduction in price on) "I never discount these books-they sell like hot cakes"
points
Noun: point (a geometric element that has position but no extension) "a point is defined by its coordinates"
Noun: point (the precise location of something; a spatially limited location) "she walked to a point where she could survey the whole street"
Noun: point (a brief version of the essential meaning of something) "get to the point"; "he missed the point of the joke"; "life has lost its point"
Noun: degree, level, stage, point (a specific identifiable position in a continuum or series or especially in a process) "a remarkable degree of frankness"; "at what stage are the social sciences?"
Noun: detail, item, point (an isolated fact that is considered separately from the whole) "several of the details are similar"; "a point of information"
Noun: point, point in time (an instant of time) "at that point I had to leave"
Noun: point (the object of an activity) "what is the point of discussing it?"
Noun: point, tip, peak (a V shape) "the cannibal's teeth were filed to sharp points"
Noun: point, dot (a very small circular shape) "a row of points"; "draw lines between the dots"
Noun: point (the unit of counting in scoring a game or contest) "he scored 20 points in the first half"; "a touchdown counts 6 points"
Noun: point (a promontory extending out into a large body of water) "they sailed south around the point"
Noun: item, point (a distinct part that can be specified separately in a group of things that could be enumerated on a list) "he noticed an item in the New York Times"; "she had several items on her shopping list"; "the main point on the agenda was taken up first"
Noun: point (a style in speech or writing that arrests attention and has a penetrating or convincing quality or effect)
Noun: point, spot (an outstanding characteristic) "his acting was one of the high points of the movie"
Noun: point (sharp end) "he stuck the point of the knife into a tree"; "he broke the point of his pencil"
Noun: compass point, point (any of 32 horizontal directions indicated on the card of a compass) "he checked the point on his compass"
Noun: point (a linear unit used to measure the size of type; approximately 1/72 inch)
Noun: period, point, full stop, stop, full point (a punctuation mark (.) placed at the end of a declarative sentence to indicate a full stop or after abbreviations) "in England they call a period a stop"
Noun: point, head (a V-shaped mark at one end of an arrow pointer) "the point of the arrow was due north"
Noun: point, pointedness (the property of a shape that tapers to a sharp tip)
Noun: point (a distinguishing or individuating characteristic) "he knows my bad points as well as my good points"
Noun: point, gunpoint (the gun muzzle's direction) "he held me up at the point of a gun"
Noun: point, power point (a wall socket)
Noun: distributor point, breaker point, point (a contact in the distributor; as the rotor turns its projecting arm contacts them and current flows to the spark plugs)
Verb: indicate, point, show (indicate a place, direction, person, or thing; either spatially or figuratively) "I showed the customer the glove section"; "He pointed to the empty parking space"; "he indicated his opponents"
Verb: orient, point (be oriented) "The weather vane points North"; "the dancers toes pointed outward"
Verb: charge, level, point (direct into a position for use) "point a gun"; "He charged his weapon at me"
Verb: steer, maneuver, manoeuver, manoeuvre, direct, point, head, guide, channelize, channelise (direct the course; determine the direction of travelling)
Verb: bespeak, betoken, indicate, point, signal (be a signal for or a symptom of) "These symptoms indicate a serious illness"; "Her behavior points to a severe neurosis"; "The economic indicators signal that the euro is undervalued"
Verb: luff, point (sail close to the wind)
Verb: point (mark (Hebrew words) with diacritics)
Verb: point (mark with diacritics) "point the letter"
Verb: point (mark (a psalm text) to indicate the points at which the music changes)
Verb: point (be positionable in a specified manner) "The gun points with ease"
Verb: target, aim, place, direct, point (intend (something) to move towards a certain goal) "He aimed his fists towards his opponent's face"; "criticism directed at her superior"; "direct your anger towards others, not towards yourself"
Verb: sharpen, taper, point (give a point to) "The candles are tapered"
Verb: point, repoint (repair the joints of bricks) "point a chimney"
- discount points -
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