Originally Posted by Josh M
Well we get a rate sheet..........and say par is 5% and at 5.5% we make 1 point and 6% we make 2 points...........its just what the lender pays us, the borrower never has to pay that, and I don't even think its on the HUD. Sometimes if its a really good friend, I won't charge anything and just make it at par..............or I'll straight up tell customers that if they want the really low rates they are gonna have to pay for them up front
I'm a broker
it shows on the hud. lender pays you, but its built into the rate and it raises the customer's monthly payments. do you do a lot of high cost states? we do a lot of MA and NJ loans and they're a bitch. gotta run high cost tests, benefit to borrower tests, etc. we do b and c mainly.