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How Do I Get The Best Rate?
16 April 2018 | By Eddie Luhrassebi

How Do I Get The Best Rate?

Here Is What Your Client Needs To Know We’ll make this short and sweet. It is never about the best rate. It is about the best MATH, period. There is NO other answer than that. So why isn’t the lowest rate the best deal? First, lower rates come with more points and fees. That is not the real issue, however. There is a break-even point to contend with when paying points and fees, tax deductions to figure out. In the case of a purchase loan, points are tax deductible in the year that you pay them. That is good, but then again, so is the interest you think you...
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Why It’s Not Always A Good Idea To Refinance… Unless You Know The Math
12 April 2018 | By Eddie Luhrassebi

Why It’s Not Always A Good Idea To Refinance… Unless You Know The Math

There’s a reason why banks are so profitable. Quarter after quarter they show billions of dollars in profits. As most of us know, one major reason for this is banks pay depositors less than 1% return on their savings accounts and use those same monies to charge double digit rates on credit cards – some as high as 29.99%. Another major and often overlooked reason why banks are profitable is because they temp customers to refinance by selling them monthly savings and lower payments instead of teaching them the Math. They sell the sizzle. They make us think they...
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