|Objective: To help you calculate the real cost of points and their impact on the effective interest rate when financing or refinancing a personal, business, or investment mortgage.
Before financing or refinancing properties or assets, you want to know the real cost of the money – and not just the stated interest rate. You must factor in points and origination fees charged by lenders to determine the true or effective interest rate, which is the real cost of the loan.
That calculation is especially important if you have two or more offers from different lenders, because you will need to evaluate those offers on the basis of their effective interest rates to make a valid comparison.
This Resource Report includes a table and formula for combining the stated interest rate with points at different levels to come up with the effective interest rate, an actual illustration of how to perform the calculations, a checklist for financing/refinancing properties, and a review of the tax deductions to which you are entitled.
Price: $19.00 | Pages: 9
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