Tip #5 of Ten Tips You Should Know Before Buying a Home - 03/08/11 12:04 AM
Interest rate options can come with pricing differences.  Those differences are called "points".  A point is a fee charged by the lender, typically a percentage of the loan amount.  Most buyers when inquiring about rates are looking for a rate quote at "par" pricing.  This is the lowest interest rate at a given point in time where the lender only charges 1% for the Origination Fee and there are no further "point" costs.
The rate on a real estate loan can be bought up or bought down based on investor or bank pricing over and above the 1% for the Origination … (2 comments)

 
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INGRID PIERSON NMLO#233666 800-530-9421

Roseville, CA

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VITEK Mortgage Group

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