A unit for measuring fees related to a loan?
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briano
Apprentice
Joined: 09 Nov 2004
Posts: 2
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 Posted: 10/11/08 - 04:13 Post subject: |
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| In personal loans, there are united for measuring the frees that are related to those loans, or so I have been told. No idea what such units are called, but I am supposed to find out, and I am hoping that you chaps will be able to give me a helping hand in this process. Thank you for any replies. |
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jeromy
Apprentice
Joined: 08 Aug 2004
Posts: 9
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| Posted: 11/17/08 - 22:14 Post subject: |
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| Such units are called points. In mortgage loans, a point would be equal to one per cent of the total value of the principal. Some lenders are in the business of charging so called origination points, which is done to cover the expenses of making the loan. I hope this helps - let me know if you need anything else. |
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