GFE In hand for First-Time Homebuyer...your thoughts? - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - Page 2 - City-Data Forum

nikolasmor · 04-09-2011, 07:26 AM

Thanks for the feedback. Its 2.64 acres and required in our area. Also there is no origination fee, thats to my benefit correct?

ShanetheMortgageMan · 04-09-2011, 09:36 AM

With an origination/discount fee you could lower your rate, and if you will stay in the home loan for as long as needed in order to save an accumulated amount in lower payments over the months than is greater than the origination fee, then it starts to make sense to pay the fee to get the lower rate.