Refinancing specialists on Mortgages.......

[maverick2112]

I want to refinanance a property I am going to be renting out. The loan officer gave me the lending terms but added a 2.5 points fee on top of the 1% loan origionation fee, so its costing me an extra $3300 with those extra 2.5 points added in because its a non living second homw that is being rented out or some crap like that rate is 6.5 % 30 yrs for 135,000 80% of value..........should I be paying any points

Income verified and credit score of me and spouse is 727 and 722..........

 

[bear]

Mav 2112.......
I never, ever pay points and always negotiate fees......
I never use anything but fixed rate
I never use under 30 year time period ( do you know what that payment will look like in 20 years? peanuts) Planning on staying????
Assumable mortgages may even become a possibility again in a rising Interest rate environment. Variable are starting to get hurt.
Are you a member of a credit union?? Join one and develop a close working relationship..I found that helpful.

I'm no expert but these are my opinions and practices.

bear