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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Points
Can someone please explain this to me?
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Posted 10/26/05 7:23 PM  |
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Daisy07
Love my girls :)
Member since 7/05 1543 total posts
Name:
:)
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Re: Points
I think...(and I'm still a little confused myself) that you pay money to get a lower interest rate. For example, if you get quoted a 6% interest rate with 0 points, that means that is your rate flat out. If you get it with a point, it means that you are paying extra money to get the interest rate at 6, (it really may be 6.25 for example).
I could be totally off and please tell me if I am. It is all very, very confusing.
Hope this helped.
PS-the money you pay in "points" is up front money.
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| Posted 10/26/05 7:29 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Points
Posted by ksun1310
I think...(and I'm still a little confused myself) that you pay money to get a lower interest rate. For example, if you get quoted a 6% interest rate with 0 points, that means that is your rate flat out. If you get it with a point, it means that you are paying extra money to get the interest rate at 6, (it really may be 6.25 for example).
I could be totally off and please tell me if I am. It is all very, very confusing.
Hope this helped.
PS-the money you pay in "points" is up front money.
thanks that is kinda sorta what i was thinking
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| Posted 10/26/05 7:32 PM |
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