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Author: iamdb Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1491  
Subject: Re: Howdy Date: 5/27/2004 6:17 PM
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I agree with inparadise.

We got a zero point 5.5% loan last summer directly from BoA, in which the other costs were credited. We could have gotten a lower rate had we been willing to pay up-front costs.

To pay off our RE loan, we would have to take the funds from an IRA, and the tax liability would make such a decision untenable.

Disclosure: This loan was a refi, and the loan to value ratio is under 20%, so the lender assumed no added risk other than a 1.25% reduction in interest rate.
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