[quote=FormerSanDiegan]
Just because someone has a few thousand or a few tens of thousands does not mean they should spend it to lower the rate. It depends on how long they plan to stay in the property and the amount of time it takes to recoup those costs.
One might be willing to pay a higher rate and save their cash if it takes more than 3 or 4 years to break even on the costs one is paying.
The informed consumer should be offered a range of rates and costs and find the best rate/cost balance for their particular situation. This rarely happens.
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Obviously if you plan to flip the house, it’s not worth to buy points. But if you plan to stay there at least 7-10+ years, then buying points would make a big difference. If you noticed, I was refuting the points of not everyone can afford the points or job security.
If you ask for options, they’ll give it to you. If you didn’t make the effort to ask for options, then you shouldn’t blame the loan person for not telling you. They probably make the best guess they can base on the information you give them.
