The type of place a server works in determines a lot about how much they stand to make. In restaurants, the average annual salary is $20,370. Traveler accommodation lodges, however, have an average salary of $24,360. Waiters in special food services see an average of $23,090 a year. In amusement and recreation, servers can earn around $21,700 and in bars and other drinking places, the average salary is $19,660.
A mortgage point equals 1 percent of your total loan amount - for example, on a $100,000 loan, one point would be $1,000. Mortgage points are essentially a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payments (a practice known as buying down your interest rate). In some cases, a lender will offer you the option to pay points along with your closing costs. In exchange for each point you pay at closing, your mortgage APR will be reduced and your monthly payments will shrink accordingly. Typically, you would buy points to lower your rate on a fixed-rate mortgage.
You're taking a slightly higher rate, and you're paying the costs every month in that rate.. A point is an upfront fee equal to 1 percent of your loan amount. For example, if you borrow $200,000, one point is $2,000, half a point is $1,000 and a quarter point is $500.As a general rule of thumb, a discount point paid today usually shaves no more than a quarter or eighth of a percentage point off your rate. Pay one discount point in addition to your closing costs for a lower interest rate of 3.25 percent. 2  Pay no points at all, leaving your interest rate unchanged at 3.50 percent. 3  Receive one rebate point, $2,000 at closing, in exchange for an interest rate of 3.75 percent.