t****n
发帖数: 324 | 1 The interest paid between the close date and the end of month is the hidden
cost for each No Point No Cost mortgage refinance.
Say your new loan closes on 5th of the month. Then interest paid on the
remaining 25 days is the hidden cost because it has no contribution to the
principal and the interest towarding to the principal. |
g*s
发帖数: 2277 | 2 好好读读文件
hidden
【在 t****n 的大作中提到】
: The interest paid between the close date and the end of month is the hidden
: cost for each No Point No Cost mortgage refinance.
: Say your new loan closes on 5th of the month. Then interest paid on the
: remaining 25 days is the hidden cost because it has no contribution to the
: principal and the interest towarding to the principal.
|
t****n
发帖数: 324 | 3 Which document?
I am talking about the practical case. Maybe it is you who never understand
this before :-)
【在 g*s 的大作中提到】
: 好好读读文件
:
: hidden
|
c**l
发帖数: 324 | 4 that is the cost you used the amount of the loan money. It's not hidden cost
at all. The old money you borrowed was paid off on 5th of the month( such
as May). There has to be an interest of using new money you borrowed. There
is no payment due next 1st of the month(June). the new payment is scheduled
one month after(July 1st). |
p******l
发帖数: 203 | 5 晕，总是有人不懂得怎么计算利息。refinance的cost应该就是一天或者2天的利息，这
个利息就是
fund和pay off前一个loan之间的overlap，你或许会多付那么一天或者2天利息而已。
hidden
the
【在 t****n 的大作中提到】
: The interest paid between the close date and the end of month is the hidden
: cost for each No Point No Cost mortgage refinance.
: Say your new loan closes on 5th of the month. Then interest paid on the
: remaining 25 days is the hidden cost because it has no contribution to the
: principal and the interest towarding to the principal.
|
t****n
发帖数: 324 | 6 People like you just being brain washed by agents/banks.
Give me a reason why the bank can not start the 360 months (say 30 years
fixed loan) tenure from the 1st day the loan transferred to it? Why it has
to wait until the next 1 st of the month?
That comes to a simplified question:
Why 30 years fixed loan can not be exact 360 months rather than 360 months +
the remaning days of the current month (which only interest rather than
interest+principal occurs to favorate the bank only)?
cost
There
scheduled
【在 c**l 的大作中提到】
: that is the cost you used the amount of the loan money. It's not hidden cost
: at all. The old money you borrowed was paid off on 5th of the month( such
: as May). There has to be an interest of using new money you borrowed. There
: is no payment due next 1st of the month(June). the new payment is scheduled
: one month after(July 1st).
|
t****n
发帖数: 324 | 7 It looks like very few people have deep thinking ability (even just a little
). Checking the upstair post, you will know I am saying so.
【在 p******l 的大作中提到】
: 晕，总是有人不懂得怎么计算利息。refinance的cost应该就是一天或者2天的利息，这
: 个利息就是
: fund和pay off前一个loan之间的overlap，你或许会多付那么一天或者2天利息而已。
:
: hidden
: the
|
i******e
发帖数: 1720 | 8 So in your deep thinking, who should pay the interest to your new lender
from the closing date of the 5th to the month-end. Free loan for 25 days to
you?
And you are the one who borrow, if you don't like it, find a lender to accomodate your needs.
little
【在 t****n 的大作中提到】
: It looks like very few people have deep thinking ability (even just a little
: ). Checking the upstair post, you will know I am saying so.
|
s*****c
发帖数: 753 | 9 Suppose your remaining principle is 200K, You can always choose to refinance
190K and pay the remaining 10K at the time of the refinancing.
So you can choose to pay one month (or any amount) the same day of your
refinancing. What do you complain about?
+
【在 t****n 的大作中提到】
: People like you just being brain washed by agents/banks.
: Give me a reason why the bank can not start the 360 months (say 30 years
: fixed loan) tenure from the 1st day the loan transferred to it? Why it has
: to wait until the next 1 st of the month?
: That comes to a simplified question:
: Why 30 years fixed loan can not be exact 360 months rather than 360 months +
: the remaning days of the current month (which only interest rather than
: interest+principal occurs to favorate the bank only)?
:
: cost
|
p****l
发帖数: 545 | 10 guy, you can always pay the principal if you want as long as there is no
prepay penalty.
Interest only for the first month is your option, not your cost.
hidden
【在 t****n 的大作中提到】
: The interest paid between the close date and the end of month is the hidden
: cost for each No Point No Cost mortgage refinance.
: Say your new loan closes on 5th of the month. Then interest paid on the
: remaining 25 days is the hidden cost because it has no contribution to the
: principal and the interest towarding to the principal.
|
|
|
g*s
发帖数: 2277 | 11 其实很多人不光想交25天的利息，然后再360个月的INTEREST+PRINCIPAL，他们还巴不
得可以交250天，
2500天，25000天的INTEREST ONLY，然后再360个月的INTEREST+PRINCIPAL,这样会不会
吓坏你，嘿
嘿。
+
【在 t****n 的大作中提到】
: People like you just being brain washed by agents/banks.
: Give me a reason why the bank can not start the 360 months (say 30 years
: fixed loan) tenure from the 1st day the loan transferred to it? Why it has
: to wait until the next 1 st of the month?
: That comes to a simplified question:
: Why 30 years fixed loan can not be exact 360 months rather than 360 months +
: the remaning days of the current month (which only interest rather than
: interest+principal occurs to favorate the bank only)?
:
: cost
|
v******s
发帖数: 190 | 12 Actually, my loan was closed on 6/8, and lender ask me to pay principal and
interest from 6/1 and credit
back 7 days interest
+
【在 t****n 的大作中提到】
: People like you just being brain washed by agents/banks.
: Give me a reason why the bank can not start the 360 months (say 30 years
: fixed loan) tenure from the 1st day the loan transferred to it? Why it has
: to wait until the next 1 st of the month?
: That comes to a simplified question:
: Why 30 years fixed loan can not be exact 360 months rather than 360 months +
: the remaning days of the current month (which only interest rather than
: interest+principal occurs to favorate the bank only)?
:
: cost
|
t****n
发帖数: 324 | 13 this is the good way to go
and
【在 v******s 的大作中提到】
: Actually, my loan was closed on 6/8, and lender ask me to pay principal and
: interest from 6/1 and credit
: back 7 days interest
:
: +
|
t****n
发帖数: 324 | 14 两吗事。
【在 g*s 的大作中提到】
: 其实很多人不光想交25天的利息，然后再360个月的INTEREST+PRINCIPAL，他们还巴不
: 得可以交250天，
: 2500天，25000天的INTEREST ONLY，然后再360个月的INTEREST+PRINCIPAL,这样会不会
: 吓坏你，嘿
: 嘿。
:
: +
|
q*******g
发帖数: 132 | 15 The best thing for you is not to have a mortgage.
【在 t****n 的大作中提到】
: 两吗事。
|
