Not exactly true. There are other things that change the APR

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Apr 27, 2015
5:17:35pm

bulletproof

Not exactly true. There are other things that change the APR

that you shouldn't use in a comparison, like prepaid interest.

Report problem with this ad

bulletproof

Bio page: bulletproof
Joined: Sep 11, 2003
Last login: May 6, 2024
Total posts: 6,383 (26 FO)

Report problem with this ad

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

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad