The typical way to present a mortgage to a borrower buying a home around Atlanta is to quote the “par” rate of the day, with one origination fee (i.e. 1% of the loan amount as profit for the mortgage company), and the normal closing costs, but with no points, which are a percentage of the loan amount paid up front to permanently buy down the interest rate.
However, there are other ways to quote and therefore to get a mortgage loan. This video will explain the differences.
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