At SurePoint Lending, we think it is important to give our customers all the tools they need to become smart about the loan process. We have gathered calculators, testimonials, advice from our advisors and much more in one place.
From our advisor’s desk: How does debt consolidation really
work?
Maybe you have a decent rate on your current mortgage but are in some debt because of unforeseen expenses. The rates that you are seeing advertised are higher than your current home loan rate. How can you possibly save money by refinancing? All of the individual credit cards you carry have a very high interest rate. By combining all your debt together with one lower interest rate, you can significantly lower your monthly payment. See how it is done.
Loan lingo word of the month:
“Point”
This is a fee you can opt to pay a lender at closing in order to lower your interest rate. One point is equal to 1% of the loan amount. On a $100,000 loan one point is $1,000. Points may be further classified into origination points or discount points. See more useful words in our lending dictionary.
Did you know?
Do lenders set interest rates? Aside from your individual rate based on your credit score, down payment and other factors, interest rates are determined primarily by Treasury policy, the economy and inflation.