I have 8 years experience in real estate and have seen many changes. More of these changes have been made in the last year than any other time in my real estate career. I confirmed with our in-house lender that there are no requirements to pay any points on a loan; however, zero point loans can have pricing adjustments built into the interest rate or other fees. Sometimes there is a benefit to paying points on a loan, but your lender should be able to explain the direct savings and benefits to you in an honest, straightforward manner. Our lender at Century 21 Mortgage does not charge this fee. If you would like more details, please feel free to contact me.

Hi A
Yes Fannie Mae has institued several pricing adjustments in the last 6-9 months. Now in the past, a 1% price adjustment could be paid as a discount fee OR could be reflected as just a higher rate (usually .25%-.50% higher). Under current pricing in the industry though, to reflect this adjustment in rate may add 1-1.5% to your rate. That may make it not worthwhile to refinance depending on your current rate. In other words, if your savings will be enough at the 1 pt rate, then it's worth paying it.

Unfortunately, almost all the lenders out there are only doing loans these days that conform to Fannie Mae or FHA guidelines. There is no market for non-conforming stuff anymore

Best of luck