5.25% 1 Discount Point
$417,000 5.25% No Discount Points
4.875% 1 Discount Point
These are all 30-year fixed rates. Lately, 30-year rates have been even better than ARM rates so I didn't even price out an ARM - not even worth it.
Also, as for the APR. The APR is your interest rate that factors into it the cost for credit. The closer the APR to the Note Rate of the loan, the less you are paying for the loan. If you are comparing 2 loans, the one with the lower APR would ultimately cost less over the life of the loan. However, you have to factor into it how long you plan on keeping the loan because paying higher closing costs for a loan you do not plan on keeping for some time is not a good financial decision.
I would be happy to speak with you if you have any questions.
Apply Online: flagstarloans.com/lallison
Because of the loan to value, the jumbo gets very expensive.
At $417,000, I have a 5/1 at 4.75% with no points, $835 lender fee plus title, escrows, appraisal.
There are higher rates where I can pay some or all of the closing costs for you.
If you would like to proceed, please call me at 877-282-5789 or email firstname.lastname@example.org
BTW, don't do a loan modification, it will impact your credit!
If there is no modification there is no cost to the home owner. If there is a modification the cost of a professional lawyer based modification is much less than a refinance.
Can you see how so many people are choosing the loan modification route?
Loan conditions are changing almost daily. I suggest you call a local mortgage broker with whom you'll need to share some personal information before you can get a specific question relative to your area.
The APR is used for comparison purposes only. The actual rate you pay monthly is the mortgage rate you are quoted. The APR is arrived at using a complicated formulaâ€“ a good intention that many don't understand.
Also, can somebody explain what is the difference of "mortgate rate" and "APR"? I see these two numbers often off a little bit. Which one is the rate I will be paying my interest?
First, check out my blog titled "Rules of Refinancing." I think you'll find this useful.
If you'd like to discuss your options further with me at any point in time in the future, please feel free to get in touch. I am local and would be happy to assist --- no cost or obligation.