Bank discount

Bank discount

A bank discount is interest paid on a loan upfront. The total amount of interest due, based on projected repayment, is deducted in one lump sum from the initial distribution of the loaned funds. The bank discount is expressed as a percentage of the loan amount.

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Loan Type Today
30 Year Fixed   5.63
15 Year Fixed   5.47
5/1 Adjustable   5.85

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