Quote:
Originally Posted by jay santos
If several thousand dollars = a few bucks to you, then you are right. If not, I can show you multiple settlement statements where I paid 1/2 point in closing costs (including yield spread) for my loan.
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I think cheap loans can be found. If you paid 1/2 point total, you got a screaming deal. Mortgage companies could not operate on that margin if they gave that deal to everyone. Most companies need at least 2 points to stay in business. My point is most mortgage companies will offer 1/2 point origination to get you in the door, then charge more for something else to make up the difference.
To me not hiring a realtor is like changing your own oil or fixing your own car. It can be done, but why bother? Sure, you have to pay a mechanic $50 an hour (which seems steep), but it would take me 10 hours to do what he can do in one. Like I said, if you know what you are doing, go for it. I think the average person would be better off hiring a professional.