flu, your math checks out, but you made a huge assumption. Which is, $10k in points. That’s a lot for a $200k loan. 5% in points would be way too much for only 1/2 a % lower rate. Jimmy is stating 1% in points = 1/2 a % lower rate, which is quite good, I think. 1% of $1M = $10k. $1M loan w/ 4.25% = $4919/month and $1M loan w/ 4.75% = $5216/month. That’s ~$300/month or $108k over 30 years.
