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Old 01-12-2011, 04:05 PM
 
27 posts, read 80,360 times
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What percent shoud i pay it so that i feel very good about paying it?
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Old 01-13-2011, 03:17 AM
 
Location: Dallas/Fort Worth, Texas
4,207 posts, read 15,250,942 times
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Quote:
Originally Posted by dunkky View Post
What percent shoud i pay it so that i feel very good about paying it?
A higher origination fee means that you get a lower rate. So you either pay for it upfront or over the term of the loan. Typical fee is 1%.

Naima
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Old 01-13-2011, 06:21 PM
 
Location: Texas
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Typical and customary if there is one is: 1%. I would go for it. The rate difference is worth it.
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Old 01-14-2011, 09:12 AM
 
Location: TX
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Ummm I thought paying points lowered your rate, not origination fee. Origination fee is just that... a fee. IMO you should shoot for 0% origination fee.
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Old 01-14-2011, 01:18 PM
 
Location: Texas
5,872 posts, read 8,090,819 times
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Quote:
Originally Posted by kreeyax View Post
Ummm I thought paying points lowered your rate, not origination fee. Origination fee is just that... a fee. IMO you should shoot for 0% origination fee.
Yeah, good luck w/ that. Brokers/Bankers combine origination AND fee's to "broker" the lowest rate for their customers.

No origination, means you're gonna pay more than 1.5 pts on your loan.
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