"Buy" A Better Rate

"Buy" A Better Rate

Do you plan on keeping your loan for a while? If so, then it may make sense to "buy" a lower interest rate by paying one or more "points."

Even if you're unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for a lower rate may make sense. For example, do you have a high-paying job now but you think you might change careers in the next few years? We can help you sort it out. It's part of our finding the right loan for your means and goals.

A point equals one percent (1%) of the total loan amount. For the buyer it is an up-front fee that lowers your monthly interest rate as well as the total interest you will pay over the life of the loan. So, a one point loan will have a lower interest rate than a no point loan. Basically, when you pay points you trade off paying money later in favor of paying money on the front-end. You can pay fractions of points, meaning there are a number of "point" packages that can make your loan's terms more favorable.

With a variety of rate and point combinations available, as you look at different loan programs, don't look just at the rate -- compare the whole package. Federal law requires lenders to publish their loans' Annual Percentage Rate, or A.P.R. The A.P.R. is a tool that can be used to compare different terms, offered rates, and points.

We are required by law to list the following licensing information. Flagship Financial Group, LLC is licensed as: Alaska Mortgagee Licensee #100278; Arizona Banker 0908193; Department of Corporations under the California Residential Mortgage Lending act Lender 4130854; Florida Correspondent Lender CL 0703188; Georgia Mortgage Broker Licensee 17297 – 3130 W Maple Loop Dr, #200, Lehi, UT 84043 (GA); Illinois Residential Mortgage Licensee MB6760204; Registered under the Kansas Mortgage Business Act License Number of 2002-4309, Maine Mortgage Lender License# SLM9424; Maryland Mortgage Lender 16461, Mississippi Supervised Mortgage Company 308/2006; Nevada Mortgage Broker 1385 – 1349 Galleria Dr., #110, Henderson, NV 89014; New Hampshire Banking Department Mortgage Broker 13439-MBR; North Dakota Money Broker MB101563; Licensed by the Pennsylvania Department of Banking (PA); Utah Mortgage Loan Company 5493106; Licensed by the Virginia State Corporation Commission, License MC-2980. In certain states in which we do conduct business, certain restrictions and limitation apply. Rates and terms subject to change. If you have any questions or comments regarding this offer please email to lharris@ffgcorporate.com.

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