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What is a point?

April 26, 2017point

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What is a point?

13 Answers

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Points are virtual money. You gain points by being an active user. You can then convert your points into vouchers or lottery tickets.

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A. A point is equal to one percent of the loan amount. For example, if you get a mortgage for $100,000.00 with one point, you’ll pay $1,000.00 in points as part of your closing cost.

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A feature representing a real world object. The geometry of a point feature is a single point (a pair of coordinates) with optional size and orientation.

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Points are prepaid interest which may be charged by the lender for the purpose of providing a lower interest rate. If points are paid, they are normally payable at the time of closing. Each point is equal to 1% of the principal loan amount. For example, $1,500 equals one point on a $150,000 mortgage. The more points you pay, the lower your interest rate will be, thus lowering your monthly payment.

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Posted

Points are prepaid interest which may be charged by the lender for the purpose of providing a lower interest rate. If points are paid, they are normally payable at the time of closing. Each point is equal to 1% of the principal loan amount. For example, $1,500 equals one point on a $150,000 mortgage. The more points you pay, the lower your interest rate will be, thus lowering your monthly payment.