Business / Taxes / Discount Point: Some lenders require you to prepay a portion of the interest due on your mortgage as a condition of approving the loan. They set the amount due at one or more discount points, with each discount point equal to 1% of the mortgage loan principal. For instance, if you must pay one point on a $100,000 mortgage, you owe $1,000. From your perspective, the advantages of paying discount points are that your long-term interest rate is lowered slightly for each point you pay, and prepaid interest is tax deductible. The advantage, from the lenders’ point of view, is that they collect some of their interest earnings up front.
Discount Adjective Synonyms: reduce, mark down, deduct, lower, take or knock off
Discount Verb Synonyms: diminish, lessen, minimize, detract from
Point Adjective Synonyms: dot, mark, speck, (full) stop, period, decimal point
Point Noun Synonyms: spot, place, stage, position, site, station, location, locale
Entertainment / Ice Hockey / Points: The left and right positions taken by the defensemen of the attacking team, just inside the blue line of the attacking zone; also the term used to describe the defensemen playing at this location; als MORE
Business / Real Estate / Discount Points: An added loan fee charged by a lender to make the yield on a lower-than-market-interest VA or FHA loan competitive with higher-interest conventional loans. One discount point is equal to 1 percent of MORE