Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Should I be nervous about Yield Spread Premium

Should I be nervous about Yield Spread Premium

I have a GFE from a broker that contains a hefty (>$8000) Origination Charge that includes a 2% Yield Spread Premium, and a credit for the whole of that amount. The rate is good and the broker insists there are no points to pay, but I suspect that what will happen is that once underwriting starts the YSP will suddenly drop and I'll effectively be paying points at closing anyway. The broker claims that any differences in the YSP when underwriting starts will be covered by them, but when I asked if they would put that in writing he said that they could not.

Is this normal practice? Should I be nervous?


admin's picture
admin
25-06-2015

0 Answers
Votes
Older
Newer

Related Questions

Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Image CAPTCHA
Page loaded in 0.089 seconds.