refinanced from 5.99% to 3.25%

[juiceweezl]

I got a 900 credit score, 3 houses and 2 Rolls Royces parked outside

Pffft! Are you a CPA though?

[paul_376]

Pffft! Are you a CPA though?

nope , but I do deliver pizza on the weekends

[8mpg]

Thanks for saying the same thing I said lol.

how on earth is that front loaded?

[Vertnut]

I got a 900 credit score, 3 houses and 2 Rolls Royces parked outside

Well...I've got a 950 credit score, 4 houses, and 3 Rolls Royces out front, and a 12" johnson and a "perfect 10" for a wife!


;-)

[fordracing19]

Well...I've got a 950 credit score, 4 houses, and 3 Rolls Royces out front, and a 12" johnson and a "perfect 10" for a wife!


;-)

A perfect wife with 10"?

Sent from my PC36100 using Tapatalk

[racrguy]

how on earth is that front loaded?

Seriously?

Ok, here we go. By front loaded with interest, I mean in the beginning of the loan you're paying more interest than principal.

[mustangguy289]

Dave Ramsey says I am fine with no credit score.

[juiceweezl]

Seriously?

Ok, here we go. By front loaded with interest, I mean in the beginning of the loan you're paying more interest than principal.

I wouldn't say it's front loaded. That's how loans work. You have to pay the interest before money goes to principal. As the principal decreases, so does the amount of interest paid thus allowing more to go to principal. You have to pay the interest first -- it's the price of the loan.

Now you could say an interest only loan is front loaded on the other hand.

[racrguy]

Am I doing a poor job at explaining, or am I just not being understood?

[bard]

Who are the local mortgage peeps here now? I know Marty used to be on the old board, but I haven't seen him around unless he changed names.

[8mpg]

Am I doing a poor job at explaining, or am I just not being understood?

most people would think "front loading" would be charging MORE interest than what there should be in the means to make a profit. People say they are being "screwed" because the loan is front loaded and the greedy bank wants to make more money. I guess your definition of "front loaded" is different than most people.

[juiceweezl]

most people would think "front loading" would be charging MORE interest than what there should be in the means to make a profit. People say they are being "screwed" because the loan is front loaded and the greedy bank wants to make more money. I guess your definition of "front loaded" is different than most people.

This. Interest is the cost of the loan. The more you borrow, the more interest you pay. It's not a case of, "I'll let you borrow $100K for a $100 dollar fee. If you want $200K, you can have that as well for no extra charge." Front loading, at least to me and every other mortgage person I know, would mean you paid 100% of the interest up front before a dime went to principal.

[slow99]

What's amortization?

[quikag]

What's interest rate arbitrage?

[slow99]

What's interest rate arbitrage?

That's like the emergency room shit.