Profile picture for Luciernagawn1

Point. How much will one point will be able to reduce the interst rate of 30 year mortgage?

  • May 17 2009 - Jamaica
  • 0Yes

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Answers (2)

Profile picture for John Paunan
It depends on the particular investor your loan officer is looking at.  Lenders structure their ratesheets and incentivize certain rates/rebates based on your qualifications.  If your loan officer is amenable, ask to see a ratesheet and for an explanation of how the final rate is determined.  There are many factors to consider in order to see what the point will actually "buy," but it's not too hard to figure out. 
  • May 17 2009
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It varies daily, but normally... .25% - .375% is the spread...  it used to be dead on .25% for years... The major changes in the mortgage world over the last 6 months have had much to do with mortgage pricing and how we see it, get it and deliver it to you.  Good luck.
  • May 17 2009
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