Points (loan, fee, rate, loan)

[Betty Blythe]

Can a private person who is lending money and taking back a mortgage legally charge points if he is not a licensed broker?

[VictorBurek]

I would think they can charge what ever they want.

[dad2jules]

Points are prepaid interest. You usually avoid them with a higher rate than if you paid them up front. Point being(no pun intended) they have nothing to do with brokers but are a loan term regardless of where you get your loan. I think you are referring to a broker fee which is commonly interchanged with points but not in the technical sense as this is not prepaid interest but a fee paid to the broker for their services.