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Discount Point PolicyCONTENTS Policy Statement ........................................................................................................................................... 2 Discount
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Discount point policy is a policy that outlines the rules and guidelines for offering discount points to borrowers in exchange for a lower interest rate on a loan.
Lenders and financial institutions that offer loans with discount points are required to file discount point policy.
Discount point policy can be filled out by providing detailed information on the terms and conditions of offering discount points, as well as any applicable fees or restrictions.
The purpose of discount point policy is to provide transparency and clarity to borrowers regarding the terms of receiving a lower interest rate in exchange for paying discount points.
Discount point policy must include information on the calculation of discount points, the impact on the interest rate, and any potential savings for the borrower.
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