Look at how much you could overpay by choosing the wrong APR
It is a federal law: lenders must disclose the APR but do you what it means?
On a $300,000 purchase loan with a 5.50% rate and 5.614% APR combination the loan charges would amount to $6,065.96 on points and fees! You probably know that when refinancing, lenders add the loan charges to the loan or take the loan charges from the borrower's available cash.
On a purchase loan, lenders don't add the loan charges to the loan, so that is money that the buyer must bring in to escrow along with all the customary closing costs (escrow, title insurance, appraisal).
On a $750,000 loan with the rate and APR above, the loan charges would be $15,229.
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You can save thousands of dollars on loan costs and also get lower monthly payments on the purchase of your home with our Low APR = Low Rate financing programs.
You can save $686 per month and $368,907 on monthly payments
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You can also qualify for and afford a lot more house. Simply Contact Us through the link above or complete our Mortgage Qualification form to get a Free Home Loan quote.
