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Old 07-21-2008, 09:56 PM
 
Location: Sacramento
2,568 posts, read 6,240,929 times
Reputation: 1924

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There should be a page that is pointed out to you where it states if there is a prepayment penalty. I never get a mortgage with a prepayment penalty.
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Old 07-21-2008, 11:15 PM
 
11 posts, read 244,567 times
Reputation: 24
Go to the local media (most would be more than happy to run your story, especially with the market the way it is), call all of the news stations you watch, and see which one will take the story...don't just threaten them, do it... and tell them you did. good luck
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Old 07-21-2008, 11:41 PM
 
Location: CNJ/NYC
1,240 posts, read 3,775,301 times
Reputation: 428
There is a lesson here: there is no free lunch. You will pay for it one way or another. The builder's lender's rate is very high but you get the privilege of less cash upfront incentives. If you are a rate shopper, you will go with a different lender. That said, 6.375% without points is not easy to come by on a small(ish) loan. Beware of other fees that are not called "points".
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