A friend was telling me about the interest rate lock he had received on his mortgage loan and I asked a simple question. “How many points are you being charged?”
He had no clue...Clueless in Brevard. He did not understand what “points” I was referring to with my question.
What are points?
Points are upfront fees paid to obtain a lower interest rate on mortgages. One point equals one percent of the loan amount.
When seeking a real estate loan talk to a professional who will explain the process and is available for questions. Research the process. Ask your real estate agent for recommendations.
And my point is…Interest rates, points charged, loan origination fees, inspections and surveys all cost real money. Know what you are spending and why.
Buying a house is a can appear to be a seemingly daunting process. Let me help you! If you are in need a recommendation on local lenders in Brevard County Florida, call me for a few names. Of course, you are free to choose whomever....
Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.
Read my blogs Florida Homes for Sale, Moving to Brevard County, Florida, and Brevard County Florida Real Estate Information.
