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Updated 1 day ago on . Most recent reply

Emira K.'s profile image
Emira K.'s profile image
Emira K.
  • Member since Dec 17, 2024
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Emira K.'s profile image
Emira K.'s profile image
Emira K.
  • Member since Dec 17, 2024
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Emira K.
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General Real Estate Investing

Buying points for 8% cash out refi?

Emira K.
Posted

I am trying to get $45k equity loan. The comp I am working said its called “cash out refinance” and it will not affect your current mortgage. They are offering 8 % rate fixed 30 year

Loan and I have to buy points with a total of $2700 closing costs. Does this sound right? Why do I have to pay for points for a 8% rate? When I look online the rates are between 6-7%.

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