Defining Mortgage Points

Mortgage lenders and mortgage brokers make their money through Points.

Lenders charge Points as their fee for lending the money to the borrower. Brokers, on the other hand, charge a percentage of the Points as their commission for setting up the mortgage deal. This percentage is usually already included in the Points that a borrower is charged.

Points vary from lender to lender and commissions from broker to broker. They also vary with the interest rate. So make sure that you shop around for the best deal.

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