i think this is very helpful for buyers because it prepares you a little about what points to cover with your mortgage and what you need to know about your lenders

very helpful thanks

i like that, thanks

sir, I am fixing to close of a first time buyer and fee that I am being slightly over charged on closing fee . Give me some idea about the average in Johnson city, tennessee 37604..130,000.00

very wel espressed. Thankyou!

learned some thing's I didn't know, And need to know. Thank's

I already have a year looking to buy a property but i feel that the Agent i have is not doing her job we have summited many offers with no aswear i am thinking of changing the Agent someone that is willing to work with us please contact us.

From marc v: "This means that if the par rate for your loan is 5.00% and the bank says they will give you a loan at 5.5%. They are making 1/2 point or percent on that loan. " If a broker does not disclose their rebate before you even start with the application process, they're probably not worth it and it's better off for you to refinance with your current bank. Some, if not most, of the brokers will disclose the amount of rebate or "points back" that they will get. This is an advantage to the client as well because several factors can "hit" or affect your interest rate. Let's say a broker tells you that he can reduce your 7.1% rate to a 6% rate. If today's par (or no-points rate) is 4.875%, the broker may get a rebate of around 2% more or less. But say you have a Loan-to-Value of more than 60% and you have an average credit score of 680. The lender may say because of those factors, a "hit" of .25% will be taken off of the rebate. That leaves 1.75% for the broker. Continued.

There are and will always be cost associated with borrowing money. There really is NO way to through in junk fees as long as you read your HUD prior to signing the contract. The only way that a lender or broker can hide a fee is by the rebate. Which is adding 1/4 point, 1/2 point, whatever lto the rate. That is what you will not know on any given day. This means that if the par rate for your loan is 5.00% and the bank says they will give you a loan at 5.5%. They are making 1/2 point or percent on that loan. But you agreeded to that rate. The other fees are all fees that come with a loan. READ THE HUD!!!!! FIRST!!!!

wow very informative