Kanetix Forum

A point is a term used to reflect 1%.

If you ever hear someone say that they charge 2 points on their loan, that would mean that they will charge 2% of the total loan amount.

Paul Sidhu, Principal Mortgage Broker at KTX Financial Ltd.

Neither Kanetix® nor the KanetixForum.ca is a mortgage broker or agent. Although this information has been passed along to you from KTX Financial through the Forum, we are not responsible for the opinions expressed by them. Mortgages can be complicated. When reading these answers, keep in mind each person¿s situation is unique. Individual responses may vary depending on your lender, geographic location, and specific circumstances. If you have a similar situation, always speak with your mortgage provider, or a licensed mortgage representative, for terms and conditions that may apply to you.

I've been thinking about buying a condo and hopefully make that move from renting to buying. Regarding a mortgage, what are points?

Thanks Paul :)