Answer to some of these questions are on different pages. Bookmark this page so you can come back here. If you would have questions not answered here you may post them on our Mortgage Forums . What is that magic number that separates a conforming loan from a jumbo loan.
Points are loan fees paid to lenders.
Points may be further classified into origination points or discount points. Origination points are charged by a mortgage company as a fee to process and approve your loan, while discount points are used to buy down the rate of interest. When a mortgage company states that a loan has 2 points be sure to ask them in the 2 points includes both discount and origination points.