RE-Finance: mortage rate vs APR# Living
z*l
1 楼
move to NJ and get PA state income tax withheld back,
100% guaranreed.
Courtesy of phynix
100% guaranreed.
Courtesy of phynix
d*g
2 楼
Just get to know, the re-finance is monthly rate, by NOT APR.
Mortage rate 3.375=APR 3.455
Is this cheating?
Mortage rate 3.375=APR 3.455
Is this cheating?
k*x
3 楼
愚人节快乐
【在 z****l 的大作中提到】
: move to NJ and get PA state income tax withheld back,
: 100% guaranreed.
: Courtesy of phynix
【在 z****l 的大作中提到】
: move to NJ and get PA state income tax withheld back,
: 100% guaranreed.
: Courtesy of phynix
a*w
4 楼
既然你都refi了，上次买房时没学习过这两个概念的区别？
【在 d****g 的大作中提到】
: Just get to know, the re-finance is monthly rate, by NOT APR.
: Mortage rate 3.375=APR 3.455
: Is this cheating?
【在 d****g 的大作中提到】
: Just get to know, the re-finance is monthly rate, by NOT APR.
: Mortage rate 3.375=APR 3.455
: Is this cheating?
p*x
5 楼
-_- , how much more shall I pay for the housing!
【在 z****l 的大作中提到】
: move to NJ and get PA state income tax withheld back,
: 100% guaranreed.
: Courtesy of phynix
【在 z****l 的大作中提到】
: move to NJ and get PA state income tax withheld back,
: 100% guaranreed.
: Courtesy of phynix
d*g
6 楼
:) ^)
k*o
7 楼
如果是no point, no fee, technically來說，APR跟MORTGAGE RATE是一样的，但是出gfe的時候，因為assume是
borrower出一系列的費用，Apr高些。只要你broker講好no point, no fee.就安啦。
borrower出一系列的費用，Apr高些。只要你broker講好no point, no fee.就安啦。
d*g
8 楼
听你解释，我更糊涂了。
t*u
9 楼
APR is (first year interest + closing cost)/loan amount
Though your agent will refund your closing cost for no point no cost loan,
he/she still need to disclose it on the paper per the regulation.
【在 d****g 的大作中提到】
: 听你解释，我更糊涂了。
Though your agent will refund your closing cost for no point no cost loan,
he/she still need to disclose it on the paper per the regulation.
【在 d****g 的大作中提到】
: 听你解释，我更糊涂了。
d*g
10 楼
you mean:
first year: APR =(interest + closing cost)/Loan amount
after first year: APR= interest/Loan amount
???
first year: APR =(interest + closing cost)/Loan amount
after first year: APR= interest/Loan amount
???
b*d
11 楼
不必特别在意document里面的APR,只要你的Refinance是No cost的,那么实际的APR就是
等于Rate.
【在 d****g 的大作中提到】
: you mean:
: first year: APR =(interest + closing cost)/Loan amount
: after first year: APR= interest/Loan amount
: ???
等于Rate.
【在 d****g 的大作中提到】
: you mean:
: first year: APR =(interest + closing cost)/Loan amount
: after first year: APR= interest/Loan amount
: ???
d*g
12 楼
sorry, 怎么越听越糊涂， 那位大虾给解释一下， 谢谢。
b*d
13 楼
你是要问什么是No cost的Refinance吗?
【在 d****g 的大作中提到】
: sorry, 怎么越听越糊涂， 那位大虾给解释一下， 谢谢。
【在 d****g 的大作中提到】
: sorry, 怎么越听越糊涂， 那位大虾给解释一下， 谢谢。
f*u
14 楼
就refinance来说， 我一般不太建议client深究一些术语，因为三言两语说不清楚，
反到让client更不放心。
client只需要关心在做refi的过程中有没有付除了本金和利息的其他任何费用。(除了一两天的overlap interest)
就APR来说， 它包括很多东西，简单来说， 其中和client有关的就是prepay interest,如果扣除prepay interest,APR还不等于rate,那就不能算我们通常说的no closing cost refi. 也就是你出了closing cost.
但是对purchase loan就不同了，因为一般buyer多少都会出些closing cost, 这个时候APR一定不同于rate
【在 d****g 的大作中提到】
: Just get to know, the re-finance is monthly rate, by NOT APR.
: Mortage rate 3.375=APR 3.455
: Is this cheating?
反到让client更不放心。
client只需要关心在做refi的过程中有没有付除了本金和利息的其他任何费用。(除了一两天的overlap interest)
就APR来说， 它包括很多东西，简单来说， 其中和client有关的就是prepay interest,如果扣除prepay interest,APR还不等于rate,那就不能算我们通常说的no closing cost refi. 也就是你出了closing cost.
但是对purchase loan就不同了，因为一般buyer多少都会出些closing cost, 这个时候APR一定不同于rate
【在 d****g 的大作中提到】
: Just get to know, the re-finance is monthly rate, by NOT APR.
: Mortage rate 3.375=APR 3.455
: Is this cheating?
a*w
15 楼
即使没有任何费用，APR也还是比rate高那么一点点。
月利率 = rate / 12
APR = (1 + 月利率) ^ 12 - 1
出gfe的時候，因為assume是
【在 k******o 的大作中提到】
: 如果是no point, no fee, technically來說，APR跟MORTGAGE RATE是一样的，但是出gfe的時候，因為assume是
: borrower出一系列的費用，Apr高些。只要你broker講好no point, no fee.就安啦。
月利率 = rate / 12
APR = (1 + 月利率) ^ 12 - 1
出gfe的時候，因為assume是
【在 k******o 的大作中提到】
: 如果是no point, no fee, technically來說，APR跟MORTGAGE RATE是一样的，但是出gfe的時候，因為assume是
: borrower出一系列的費用，Apr高些。只要你broker講好no point, no fee.就安啦。
j*0
16 楼
the initial purpose of APR is from truth-in-lending, providing a general
measure for consumers to do a smart shopping. A simple rate quote is not
telling a whole story because a lot of prepaid finance cost will be
associated with any type of loan. But no good job is done here as most
consumers, just like you, get more perplexed.
If you are doing refinance, you do not need to worry about this too much as
long as your agent covers the cost (underwriting, title, escrow,) for you.
If you are doing purchase, you need to ask underwriting-related cost because
some of them will go to the calculation of APR.
【在 d****g 的大作中提到】
: Just get to know, the re-finance is monthly rate, by NOT APR.
: Mortage rate 3.375=APR 3.455
: Is this cheating?
measure for consumers to do a smart shopping. A simple rate quote is not
telling a whole story because a lot of prepaid finance cost will be
associated with any type of loan. But no good job is done here as most
consumers, just like you, get more perplexed.
If you are doing refinance, you do not need to worry about this too much as
long as your agent covers the cost (underwriting, title, escrow,) for you.
If you are doing purchase, you need to ask underwriting-related cost because
some of them will go to the calculation of APR.
【在 d****g 的大作中提到】
: Just get to know, the re-finance is monthly rate, by NOT APR.
: Mortage rate 3.375=APR 3.455
: Is this cheating?
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