Fee that a borrower must pay a lending institution at the time of closing on a mortgage loan. The fee varies depending on the institution and the borrower's credit history. It covers the cost of processing the loan application, evaluation, and approval. It is not tax deductible.
Related information about origination points:
- Origination Points Definition | Investopedia
A type of fee borrowers pay to lenders or loan officers in order to compensate them for the role they play in evaluating, processing and approving mortgage loans ...
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Apr 1, 2005 ... There are two different types of points, and knowing the difference will affect your monthly payment and your taxes.
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Mortgage points, origination points & discount points explained. This article explains what are mortgage points, difference between origination points & discount ...
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Knowing about the points that are a part of the mortgage loan process is essential so you can make an educated decision. Here is a brief discussion of the basic ...
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Jul 1, 2012 ... Origination points are not set and may vary from lender to lender. So, you may be able to negotiate the number of origination points assessed ...
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Buying a home is an experience all its own. With real estate agents and lenders spouting new terms like ad valorem taxes, homeowners insurance, private ...
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You pay origination points directly to the mortgage originator for obtaining the financing. Borrowers pay discount points to the mortgage lender as prepaid ...
- Origination Points: Definition from Answers.com
Charges to a borrower to cover the costs of issuing the loan, such as credit checks, appraisal , and title expenses.