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    When it comes to getting a mortgage, you've got more options than you think. Everyone's situation is different. Tell me your scenario below, and I'll present you with all your options.


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< Fixed Rate Mortgage

15 Year Fixed Rate Mortgage with Points

When you choose a 15 year fixed rate mortgage with points, rather than the typical 30 year, you benefit from a lower rate, a chance to build more equity and less interest overall. When you are paying points, this means buying down the interest rate. Some companies call it “discount points” while others call it “origination fees.”  Either way you are paying to get the lowest possible rate for your mortgage.

Who should pay points?

For refinancing your mortgage:

If you are refinancing and plan on keeping the mortgage for the entire term of the loan then it may make sense to pay points as you will end up saving more in interest over the life of the mortgage.

For buying a home:

If you are purchasing a home and know for certain that you will keep the mortgage for the entire term and have the extra money to bring to the closing table than it makes sense to pay points to buy down the rate.


If you have the money and plan on keeping the mortgage for a long time then it makes perfect sense to pay additional fees to get the lowest possible rate.  Let us analyze your situation and determine what option best fits your needs, because a low rate by itself does not necessarily mean a better deal.

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When it comes to getting a mortgage

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    Sondi And Associates, Inc. dba Florida Home Funding. NMLS ID: 870878 Location: 390 N Orange Ave #2125, Orlando, FL 32801 | Phone: (407) 704-8729

    Content provided by The information provided on this site is for basic informational purposes only and IS NOT intended as a substitute for professional or legal advice. Notice: My Town Realty (License #: CQ1049127) and Florida Home Funding (NMLS ID: 870878) are both wholly-owned entities of Shahram Sondi (NMLS ID: 186790, License #: BK3225742). Due to this relationship, any referral between these two entities has the potential to financially benefit Shahram Sondi. Under no circumstance are you required to engage the services of one or both of these entities.
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