[HLS]

Poway seller..
I must have missed your confession that you were a bank employee in your original post. I’ll put on my glasses the next time I read one of your posts so I can read between the lines…

Another 6 clueless victims… while you are quoting 5.375% today with your “incidental business” I was quoting 4.75% well worth it for most people to pay a point to save .625% for 30 years…

Your claim of having the best rates with no broker fee is just PURE CRAP.

Because you have no broker fee, your rates are much higher, in most cases screwing the clueless borrower who is giving up the opportunity to get a historically low rate because they fall for “no fee”

I cannot imagine what you tell people in your “main business”

You validate my belief that bank employees are clueless about options that are best for the borrower, and foolish people go to banks to get their loans.

[HLS]

Poway seller..
I must have missed your confession that you were a bank employee in your original post. I’ll put on my glasses the next time I read one of your posts so I can read between the lines…

Another 6 clueless victims… while you are quoting 5.375% today with your “incidental business” I was quoting 4.75% well worth it for most people to pay a point to save .625% for 30 years…

Your claim of having the best rates with no broker fee is just PURE CRAP.

Because you have no broker fee, your rates are much higher, in most cases screwing the clueless borrower who is giving up the opportunity to get a historically low rate because they fall for “no fee”

I cannot imagine what you tell people in your “main business”

You validate my belief that bank employees are clueless about options that are best for the borrower, and foolish people go to banks to get their loans.

[HLS]

Interesting week with mortgage rates, the volatility has been amazing.

For those who qualify, rates are below 5%. No point loans have higher rates.

Many people simply don’t qualify under current guidelines, so the rate doesn’t matter.

[HLS]

Interesting week with mortgage rates, the volatility has been amazing.

For those who qualify, rates are below 5%. No point loans have higher rates.

Many people simply don’t qualify under current guidelines, so the rate doesn’t matter.

[HLS]

Interesting week with mortgage rates, the volatility has been amazing.

For those who qualify, rates are below 5%. No point loans have higher rates.

Many people simply don’t qualify under current guidelines, so the rate doesn’t matter.

[HLS]

Interesting week with mortgage rates, the volatility has been amazing.

For those who qualify, rates are below 5%. No point loans have higher rates.

Many people simply don’t qualify under current guidelines, so the rate doesn’t matter.

[HLS]

Interesting week with mortgage rates, the volatility has been amazing.

For those who qualify, rates are below 5%. No point loans have higher rates.

Many people simply don’t qualify under current guidelines, so the rate doesn’t matter.

[HLS]

MIT,
Your question is more philosophical than anything.

I could discuss this for an hour.

Paying down any debt is simply paying off principal in addition to the interest due.

The question is does it make sense.

I have had people tell me that they are paying their mortgage debt down faster, yet they have consumer debt, which is not tax deductible at rates of 7%-25%. Assuming that they don’t plan on BK and will pay it off someday, they are being foolish.

IF history repeats itself, you will pay off a 30 YR mortgage with cheaper inflated dollars.

I also believe that in a few years, CD rates could be 8%-10% or higher. Paying off a 5% mortgage will look foolish if that happens.

There are pros and cons, and no one right answer for everyone.

Choice is to opt for more cash in your pocket now, with debt for a longer period of time as opposed to less cash in the pocket now, with less debt service later in life.

Managed debt isn’t so crazy.

Many people today have equity in their house but cannot get to it because they don’t qualify for a loan. In many cases this is because they paid their mortgage down faster than perhaps they should have.

I can make an argument for both sides. It depends on your personal situation, and understanding the projections…. HLS

[HLS]

MIT,
Your question is more philosophical than anything.

I could discuss this for an hour.

Paying down any debt is simply paying off principal in addition to the interest due.

The question is does it make sense.

I have had people tell me that they are paying their mortgage debt down faster, yet they have consumer debt, which is not tax deductible at rates of 7%-25%. Assuming that they don’t plan on BK and will pay it off someday, they are being foolish.

IF history repeats itself, you will pay off a 30 YR mortgage with cheaper inflated dollars.

I also believe that in a few years, CD rates could be 8%-10% or higher. Paying off a 5% mortgage will look foolish if that happens.

There are pros and cons, and no one right answer for everyone.

Choice is to opt for more cash in your pocket now, with debt for a longer period of time as opposed to less cash in the pocket now, with less debt service later in life.

Managed debt isn’t so crazy.

Many people today have equity in their house but cannot get to it because they don’t qualify for a loan. In many cases this is because they paid their mortgage down faster than perhaps they should have.

I can make an argument for both sides. It depends on your personal situation, and understanding the projections…. HLS

[HLS]

MIT,
Your question is more philosophical than anything.

I could discuss this for an hour.

Paying down any debt is simply paying off principal in addition to the interest due.

The question is does it make sense.

I have had people tell me that they are paying their mortgage debt down faster, yet they have consumer debt, which is not tax deductible at rates of 7%-25%. Assuming that they don’t plan on BK and will pay it off someday, they are being foolish.

IF history repeats itself, you will pay off a 30 YR mortgage with cheaper inflated dollars.

I also believe that in a few years, CD rates could be 8%-10% or higher. Paying off a 5% mortgage will look foolish if that happens.

There are pros and cons, and no one right answer for everyone.

Choice is to opt for more cash in your pocket now, with debt for a longer period of time as opposed to less cash in the pocket now, with less debt service later in life.

Managed debt isn’t so crazy.

Many people today have equity in their house but cannot get to it because they don’t qualify for a loan. In many cases this is because they paid their mortgage down faster than perhaps they should have.

I can make an argument for both sides. It depends on your personal situation, and understanding the projections…. HLS

[HLS]

MIT,
Your question is more philosophical than anything.

I could discuss this for an hour.

Paying down any debt is simply paying off principal in addition to the interest due.

The question is does it make sense.

I have had people tell me that they are paying their mortgage debt down faster, yet they have consumer debt, which is not tax deductible at rates of 7%-25%. Assuming that they don’t plan on BK and will pay it off someday, they are being foolish.

IF history repeats itself, you will pay off a 30 YR mortgage with cheaper inflated dollars.

I also believe that in a few years, CD rates could be 8%-10% or higher. Paying off a 5% mortgage will look foolish if that happens.

There are pros and cons, and no one right answer for everyone.

Choice is to opt for more cash in your pocket now, with debt for a longer period of time as opposed to less cash in the pocket now, with less debt service later in life.

Managed debt isn’t so crazy.

Many people today have equity in their house but cannot get to it because they don’t qualify for a loan. In many cases this is because they paid their mortgage down faster than perhaps they should have.

I can make an argument for both sides. It depends on your personal situation, and understanding the projections…. HLS

[HLS]

MIT,
Your question is more philosophical than anything.

I could discuss this for an hour.

Paying down any debt is simply paying off principal in addition to the interest due.

The question is does it make sense.

I have had people tell me that they are paying their mortgage debt down faster, yet they have consumer debt, which is not tax deductible at rates of 7%-25%. Assuming that they don’t plan on BK and will pay it off someday, they are being foolish.

IF history repeats itself, you will pay off a 30 YR mortgage with cheaper inflated dollars.

I also believe that in a few years, CD rates could be 8%-10% or higher. Paying off a 5% mortgage will look foolish if that happens.

There are pros and cons, and no one right answer for everyone.

Choice is to opt for more cash in your pocket now, with debt for a longer period of time as opposed to less cash in the pocket now, with less debt service later in life.

Managed debt isn’t so crazy.

Many people today have equity in their house but cannot get to it because they don’t qualify for a loan. In many cases this is because they paid their mortgage down faster than perhaps they should have.

I can make an argument for both sides. It depends on your personal situation, and understanding the projections…. HLS

[HLS]

CA Dream…

I am totally amused by your post, but it wakes me up to the reality of the lack of understanding about mortgage rates..

Rates move like the wind. While PS may have gotten that rate on Weds, he caught a window of opportunity that disappeared within an hour.

That rate isn’t currently available, and if you plan on keeping the loan for 2-3 years or longer, I still think it is completely foolish to get no cost loans.

Poway_seller, what are your closing costs for this loan ? Would you please email me a copy of the Good Faith Estimate for the loan that you mentioned, I’d like to see it with my own eyes.
I’d truly appreciate it.

[email protected]

PS: No points and no origination fee is not the same as no points no fees.

[HLS]

CA Dream…

I am totally amused by your post, but it wakes me up to the reality of the lack of understanding about mortgage rates..

Rates move like the wind. While PS may have gotten that rate on Weds, he caught a window of opportunity that disappeared within an hour.

That rate isn’t currently available, and if you plan on keeping the loan for 2-3 years or longer, I still think it is completely foolish to get no cost loans.

Poway_seller, what are your closing costs for this loan ? Would you please email me a copy of the Good Faith Estimate for the loan that you mentioned, I’d like to see it with my own eyes.
I’d truly appreciate it.

[email protected]

PS: No points and no origination fee is not the same as no points no fees.

[HLS]

CA Dream…

I am totally amused by your post, but it wakes me up to the reality of the lack of understanding about mortgage rates..

Rates move like the wind. While PS may have gotten that rate on Weds, he caught a window of opportunity that disappeared within an hour.

That rate isn’t currently available, and if you plan on keeping the loan for 2-3 years or longer, I still think it is completely foolish to get no cost loans.

Poway_seller, what are your closing costs for this loan ? Would you please email me a copy of the Good Faith Estimate for the loan that you mentioned, I’d like to see it with my own eyes.
I’d truly appreciate it.

[email protected]

PS: No points and no origination fee is not the same as no points no fees.

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