z****e
发帖数: 555 | 1 A lot people choose no-closing cost loan.
I wonder why don't we put less down payment, and pay closing cost with lower
rate. The monthly payment will be lower comparing to no-closing cost loan.
Thank you, | s********y
发帖数: 3811 | 2 people have different needs.
baozi.
lower
【在 z****e 的大作中提到】
: A lot people choose no-closing cost loan.
: I wonder why don't we put less down payment, and pay closing cost with lower
: rate. The monthly payment will be lower comparing to no-closing cost loan.
: Thank you,
| c**********e
发帖数: 1184 | 3 There is usually a tradeoff between buying points for lower rate and a no-
closing cost loan with higher rate. For example, if the loan amount is $400K
and program is 30-year fixed, compare two scenarios below:
1. If rate is 4.125% with no cost, monthly payment will be $1,938.60.
2. If rate is 4%, you will probably pay $3,000-$4,000 cost to get the lower
rate. Let's assume it is $3,000. Then your loan amount would be $397K, and
monthly payment will be $1,895.34.
1938.60 - 1895.34 = $43.26. 3000/43.26 = 69.3 month. Therefore, there are 5.
8 years of payment difference (benefit) is offset by paying extra cost.
Homebuyers should consider if 5.8 year is a big number for them to accept. A
certain group may prefer withholding more funds at hand at the moment,
while the other may prefer less monthly expenses.
Hope it helps! | F*I
发帖数: 2896 | 4 这个看你怎么算吧。你可以算一下低利息的情况下，你需要多久才能把closing cost
的3,4000省出来。那么如果在这个时间内，利息降了，你可以做refi，那么那个
closing cost你就白付了。
lower
【在 z****e 的大作中提到】
: A lot people choose no-closing cost loan.
: I wonder why don't we put less down payment, and pay closing cost with lower
: rate. The monthly payment will be lower comparing to no-closing cost loan.
: Thank you,
| k***a
发帖数: 2400 | 5 对，算一下多久才能make even 和你有可能在这期间refi。
【在 F*I 的大作中提到】
: 这个看你怎么算吧。你可以算一下低利息的情况下，你需要多久才能把closing cost
: 的3,4000省出来。那么如果在这个时间内，利息降了，你可以做refi，那么那个
: closing cost你就白付了。
:
: lower
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