noun
- What you must know in order to determine the reference of an expression.
- synonyms: intension
- An idea that is implied or suggested. .
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Point is a point is equal to 1 percent of the mortgage. One point on a $100, 000 mortgage would be $1, 000, for example. Discount points are simply interest that is paid up-front. Most lenders offer mortgages with several combinations of points and interest rates; generally, more points means a lower interest rate, less points means a higher rate.