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Apr 27, 2015
5:04
:14
pm
bulletproof
What does no points mean to you?
I love hearing everyone's definition of this.
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bulletproof
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bulletproof
Joined
Sep 11, 2003
Last login
Apr 25, 2024
Total posts
6,373 (26 FO)
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Messages
Author
Time
POLL: 3.0% on a 15 year mortgage (no points)
newey-west
4/27/15 5:01pm
is there an origination fee?
RexIdaCoug
4/27/15 5:03pm
Nope
newey-west
4/27/15 5:04pm
What does no points mean to you?
bulletproof
4/27/15 5:04pm
I'm not prepaying to reduce the stated rate below par.
newey-west
4/27/15 5:06pm
How do you know what is "par"?
boogers
4/27/15 5:06pm
It's all relative, right?
newey-west
4/27/15 5:09pm
You should care about two things. Rate, and total closing costs.
bulletproof
4/27/15 5:10pm
Yeah, I just added the no points caveat to indicate that I'm getting their "par"
newey-west
4/27/15 5:12pm
just compare the APR
TonyStark
4/27/15 5:14pm
Not exactly true. There are other things that change the APR
bulletproof
4/27/15 5:17pm
the point being that if one APR is way higher than another
TonyStark
4/27/15 5:25pm
ahem...
bulletproof
4/27/15 5:42pm
I fail to get your point.
TonyStark
4/27/15 6:08pm
Consumers shouldn't look at APR if they want exact numbers.
bulletproof
4/27/15 6:15pm
Not what I said either, it is just a quick and DIRTY
TonyStark
4/27/15 6:39pm
What about processing, underwriting, admin fees, etc.
bulletproof
4/27/15 5:08pm
RE: POLL: 3.0% on a 15 year mortgage (no points)
TonyStark
4/27/15 5:12pm
there is a lot more that go into it like loan to value, credit score, purchase,
TonyStark
4/27/15 5:16pm
2.5 on 10 year.
SEABYU1
4/27/15 5:34pm
In CA, 3.0% is competitive for 15-yr mortgages on loan values of $2M+
argus
4/27/15 5:46pm
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