Berkeley CSUA MOTD:Entry 44670
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2024/11/23 [General] UID:1000 Activity:popular
11/23   

2006/10/4-6 [Reference/RealEstate] UID:44670 Activity:nil
10/4    I got my mortgage for 6.25% and my payment is about $2500. My
        mortgage lender just called me saying they can get me 6.00%
        which will be about $2400, for "0 point 0 fee." Having an extra
        more or less $100/month payment isn't going to make or break me
        as I'm pretty comfortable either way, and I'm wondering if there's
        anything weird I should know besides the "0 point 0 fee" deal?
        \_ Good to double check, but there needn't be.  I refied from
           6.75 -> 5.75+6.375 -> 5.25 all no point/no fee.  $100/month of free
           money is $100 you don't have to scrimp on your phone/power bills.
        \_ I assume the motivation is to get the homeowner to stay with the
           original lender before they jump to another lender who may have a
           slightly lower 0 point/0 fee rate.  what do people think?
           \_ Yes. Make sure they aren't rolling costs into the new
              mortgage, though.
           \_ I did all of my 0/0 refis w/ different lenders.  Get yourself
              a good mortgage broker.
2024/11/23 [General] UID:1000 Activity:popular
11/23   

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