Mortgages
Mortgage Discount Points
Upfront fees paid directly to the lender at closing in exchange for a permanently reduced mortgage interest rate.
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Terms Starting With "M"
Showing 2 definitionsMortgages
Mortgage Recast (Re-Amortization)
A loan modification procedure where a homeowner makes a lump-sum principal payment and the lender re-amortizes the reduced balance over the remaining loan term to lower the monthly payment while keeping the existing interest rate.