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Oregon OR - Loans & Mortgages :: Refinancing :: Bad credit loans :: First time buyers home loans :: Advice on the best loan for you :: Mortgage advisor
Benefits of Using an FHA loan.
For example, say the loan officer decides he and his branch are going to earn one point. When you call and ask for a rate quote, he will add one point to the cost of the loan and quote you that rate. According to the rate sheet above, seven percent will cost you zero points. Six and three-quarters percent will cost you one point.
What Are The Advantages Of 15- And 30-Year Loan Terms?
If interest rates are trending up, it makes sense to lock in your rate. If interest rates are trending down, it makes sense to float your interest rate so that you can take advantage of a shorter lock-in period. When rates are fairly stable, it also makes sense to float your loan to take advantage of a lower price for a shorter lock-in. |