I love how the APR is not given when looking for interest rates, geez. If they did, savings rates would be lower and loan rates would be higher. Those Bastards.
Green for you OP
timothy86
Senior Member - 3K
posted: Mar. 5, 2007 @ 11:54a
They have a pretty good calculator as well since it asks for yearly taxes and yearly insurance and calculates that into the monthly payment and then breaks it down for you with graphs included.
Their CD's are also more competitive than the average bank.
If you could get a no points loan at this rate, you might invest it for a couple of years in the 6.35% jumbo share certificates mentioned here (from another post):
Total income from 2 years on this scheme would be optimized at $7,287. If that's better than the closing costs (and it's likely not), you're golden. You'd have to sell your house to your wife or somesuch (and avoid capital gains, etc.), but it might be possible.
If interest rates went up in the next two years, you'd be doing better and better over the course of the 30 years as long as you could pay the mortgage payments for the first two.
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