MORTGAGE LENDERS

greenspun.com : LUSENET : Fair Lending : One Thread

WHY CAN MORTGAGE COMPANIES CHARGE DIFFERENT RATES? I RECENTLY TALKED WITH A MORTGAGE LENDER ABOUT A LOAN FOR 100,000.00 AT 6.5% AND DECIDED TO GO WITH FHA. BY THE TIME SHE GOT ALL THE PAPERWORK TOGETHER THE 5000.OO DOWNPAYMENT BECAME 2300.00 AND TOTAL CLOSING COST WERE 5892.00. THE INTEREST 7% AND APR. 7.846 NOW I AM VERY LEARY ABOUT THE WHOLE THING.

-- THERESA L. MOORE (EROOMM@WEBTV.NET), October 25, 1998

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