Comments on: Mortgage Rates Are Low, But It May Still Cost You http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/?utm_source=rss&utm_medium=rss&utm_campaign=mortgage-rates-are-low-but-it-may-still-cost-you Helping a unique generation achieve financial independence. Sat, 31 Jul 2010 03:29:55 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Refinance Mortgage Without Fees http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-123233 Refinance Mortgage Without Fees Tue, 01 Dec 2009 19:13:03 +0000 http://genxfinance.com/?p=1350#comment-123233 [...] Mortgage Rates Are Low, But It May Still Cost You [...] [...] Mortgage Rates Are Low, But It May Still Cost You [...]

]]> By: Mortgage Rates Are Low But It May Still Cost You Generation X | low cost car insurance http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-120658 Mortgage Rates Are Low But It May Still Cost You Generation X | low cost car insurance Wed, 17 Jun 2009 04:16:54 +0000 http://genxfinance.com/?p=1350#comment-120658 [...] Mortgage Rates Are Low But It May Still Cost You Generation X Posted by root 5 minutes ago (http://genxfinance.com) Even though rates are low it more difficult to get a loan or to refinance today attached that make the lower rate not as attractive as it seems leave a comment 10 tips for dealing with car salesmen middot how to establish and improve your credit wordpress Discuss  |  Bury |  News | Mortgage Rates Are Low But It May Still Cost You Generation X [...] [...] Mortgage Rates Are Low But It May Still Cost You Generation X Posted by root 5 minutes ago (http://genxfinance.com) Even though rates are low it more difficult to get a loan or to refinance today attached that make the lower rate not as attractive as it seems leave a comment 10 tips for dealing with car salesmen middot how to establish and improve your credit wordpress Discuss  |  Bury |  News | Mortgage Rates Are Low But It May Still Cost You Generation X [...]

]]> By: Poll: Have You Refinanced Your Mortgage Recently? : Generation X Finance http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-118374 Poll: Have You Refinanced Your Mortgage Recently? : Generation X Finance Thu, 23 Apr 2009 14:16:41 +0000 http://genxfinance.com/?p=1350#comment-118374 [...] mortgage, that can result in tremendous long-term savings and even lower your monthly payment. But as I recently talked about, the rates you hear about on TV and see online might not be what you get and refinancing may not [...] [...] mortgage, that can result in tremendous long-term savings and even lower your monthly payment. But as I recently talked about, the rates you hear about on TV and see online might not be what you get and refinancing may not [...]

]]> By: How to Find Out if You Qualify for a Mortgage Refinance Under New Making Home Affordable Plan : Generation X Finance http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-117992 How to Find Out if You Qualify for a Mortgage Refinance Under New Making Home Affordable Plan : Generation X Finance Mon, 20 Apr 2009 13:26:21 +0000 http://genxfinance.com/?p=1350#comment-117992 [...] in order to offset the fees. If you don’t stay in your home long enough it’s possible the refinance could actually cost you more money than it saves. You also have to be careful with paying points and everything else to make sure you’re [...] [...] in order to offset the fees. If you don’t stay in your home long enough it’s possible the refinance could actually cost you more money than it saves. You also have to be careful with paying points and everything else to make sure you’re [...]

]]> By: Square Foot Gardening Roundup « Being Completely Frugal http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-109693 Square Foot Gardening Roundup « Being Completely Frugal Wed, 11 Mar 2009 20:01:30 +0000 http://genxfinance.com/?p=1350#comment-109693 [...] Mortgage Rates Are Low, But It May Still Cost You. A good reminder that while rates are hovering near historic lows, there are still plenty of fees to contend with when navigating a new mortgage. [...] [...] Mortgage Rates Are Low, But It May Still Cost You. A good reminder that while rates are hovering near historic lows, there are still plenty of fees to contend with when navigating a new mortgage. [...]

]]> By: Chris http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-108311 Chris Mon, 02 Mar 2009 23:58:00 +0000 http://genxfinance.com/?p=1350#comment-108311 I'm in the midst of mortgage shopping right now, and was quoted a fairly decent rate I think. I'm a FTHB, purchasing a new construction condo in CT, so I don't have many options for lenders. I've got a 90% LTV, credit scores all north of 780, and my only monthly liability is a small college loan repayment. However, I was given a rate of 5.375% last week, a but higher than I expected, but again my options are limited. However, for the cost of 0.875 points on the loan, my rate is only being reduced to 5.125%. How does Julian come to the conclusion that 1 point would buy down the interest rate by 0.625% or 0.875%? I'm still getting close to that historical level. I can't really believe that statement. Is this something negotiable with banks? This is why people think mortgage points are a bad thing. I'd rather get rid of PMI than save $30-$40 per month. Howeverm you take down my rate by 0.625%.... NOW we're talking! I’m in the midst of mortgage shopping right now, and was quoted a fairly decent rate I think.

I’m a FTHB, purchasing a new construction condo in CT, so I don’t have many options for lenders. I’ve got a 90% LTV, credit scores all north of 780, and my only monthly liability is a small college loan repayment. However, I was given a rate of 5.375% last week, a but higher than I expected, but again my options are limited.

However, for the cost of 0.875 points on the loan, my rate is only being reduced to 5.125%. How does Julian come to the conclusion that 1 point would buy down the interest rate by 0.625% or 0.875%? I’m still getting close to that historical level. I can’t really believe that statement.

Is this something negotiable with banks? This is why people think mortgage points are a bad thing. I’d rather get rid of PMI than save $30-$40 per month. Howeverm you take down my rate by 0.625%…. NOW we’re talking!

]]> By: Square Foot Gardening Roundup | Frugal Dad http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-108207 Square Foot Gardening Roundup | Frugal Dad Sat, 28 Feb 2009 13:48:20 +0000 http://genxfinance.com/?p=1350#comment-108207 [...] Mortgage Rates Are Low, But It May Still Cost You. A good reminder that while rates are hovering near historic lows, there are still plenty of fees to contend with when navigating a new mortgage. [...] [...] Mortgage Rates Are Low, But It May Still Cost You. A good reminder that while rates are hovering near historic lows, there are still plenty of fees to contend with when navigating a new mortgage. [...]

]]> By: Friday Links | The Canadian Finance Blog http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-108061 Friday Links | The Canadian Finance Blog Fri, 27 Feb 2009 10:19:44 +0000 http://genxfinance.com/?p=1350#comment-108061 [...] Generation X Finance points out that while mortgage rates may be falling, changes can make borrowing costly. [...] [...] Generation X Finance points out that while mortgage rates may be falling, changes can make borrowing costly. [...]

]]> By: Kelley http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-107984 Kelley Thu, 26 Feb 2009 21:58:23 +0000 http://genxfinance.com/?p=1350#comment-107984 Very timely post, Jeremy. My husband and I are in the midst of refinancing, or taking out a home equity line of credit, to replace all the windows in our c1948 home. We've been offered some very attractive rates (4.99%, 5.125%), but the $3-4,000 in closing costs is making us pause. We anticipate we'll need less than $25,000 (I'll know more tonight after we receive our first window quote), so I'm leaning towards the HELOC instead, as a way to borrow what we need without closing costs. Very timely post, Jeremy. My husband and I are in the midst of refinancing, or taking out a home equity line of credit, to replace all the windows in our c1948 home. We’ve been offered some very attractive rates (4.99%, 5.125%), but the $3-4,000 in closing costs is making us pause. We anticipate we’ll need less than $25,000 (I’ll know more tonight after we receive our first window quote), so I’m leaning towards the HELOC instead, as a way to borrow what we need without closing costs.

]]> By: Jim@refinance-today http://genxfinance.com/2009/02/25/mortgage-rates-are-low-but-it-may-still-cost-you/comment-page-1/#comment-107949 Jim@refinance-today Thu, 26 Feb 2009 15:55:22 +0000 http://genxfinance.com/?p=1350#comment-107949 I think you have a good point and people should be Very careful when looking at the cost of refinancing to a lower interest rate, even if their credit is top notch. Anyway you look at it, refinancing can be a good thing but it still comes down to the extra cost and if it's cheaper in the long run. Good post for everyone considering their options. I think you have a good point and people should be Very careful when looking at the cost of refinancing to a lower interest rate, even if their credit is top notch.

Anyway you look at it, refinancing can be a good thing but it still comes down to the extra cost and if it’s cheaper in the long run.

Good post for everyone considering their options.

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