Tag: <span>#educational</span>

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BORROWING MONEY

Borrow money at the lowest rate and costs. This is common sense. So, why do many people continue to borrow mortgage loans at higher rates and costs? Because, they do not consult with a mortgage broker. Mortgage brokers work with lenders in the wholesale marketplace and pass on these rates and costs to their customers....

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BUYING DOWN RATES

Let’s say you are looking to buy a $350,000 home with 20% down for a loan amount of $280,000. You want a 30-year fixed mortgage, and assume the rate is 4.25%; the principal and interest payment would be $1,377.43. If you paid a point, assume the rate would be 3.875% and the payment is $1,316.66....