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Originally Posted by Mr Bogus @ Mar. 20 2008, 12:53 PM Thanks Fate, Â*I guess I should have hopped at the first of the year when they were down almost .75...
Now if I go from a 30 FHA to a 30 year conforming.. I looks like I could take at least a full point off my rate.. does that make more sense? |
A point is actually alot. I do not know the program, but if there is not any closing costs or other points, you are doing good. I hate it when people talk APR's and are all rate driven when buying when I was working as an agent. Most companies are close to the same, where they stick you are closing costs. Paying 5 grand more in points and closing costs to get a rate of a small percent lower is how mortgage companies screw the public. You would save a little under $300 a month with a percent lower point than you currently have. I would jump on that.