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Borrower Discount Point/Fee Disclosure -


Borrower Discount Point/Fee Disclosure . For all Loans with discount points, a borrower discount point/fee disclosure must be provided.. The disclosure must… Be signed and dated by the borrower(s) at or before closing. -If the disclosure is not provided

Actived: 5 days ago

What are (discount) points and lender credits and how do


Generally, points and lender credits let you make tradeoffs in how you pay for your mortgage and closing costs. Points, also known as discount points, lower your interest rate in exchange paying for an upfront fee. Lender credits lower your closing costs in exchange for accepting a higher interest rate.

Actived: 3 days ago

CFPB Disclosure Requirements Memo-Internal.docx


This disclosure explains the effect of your election to pay a fee, commonly known as a discount point(s), which is a percentage of the loan amount and impacts the interest rate on the loan. The comparison below demonstrates the impact that payment of discount points(s) will have on the interest rate for this loan.

Actived: 7 days ago

Explaining Mortgage Discount Points In Plain English


The IRS considers discount points to be prepaid mortgage interest, so discount points can be tax-deductible. In general, one discount point paid at closing will lower your mortgage rate by 25

Actived: 4 years ago

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