YSP Issue

by Tom
(Ocala, Florida in Marion County)

Tom's experience a YSP Issue (Yield Spread Premium): I recently signed a contract on a condo, purchase price $65K. I put 30 percent down, with a credit score of 800!

My lender came in with a rate of 5.250 percent, 20 year fixed rate mortgage!

He said the rate was high due to the small amount of the loan, then I read the good faith estimate, and saw the YSP baloney...........

I should gotten a much lower rate instead of him getting a kickback. I live in Florida.

Kate's Comment: YSP Issue

Ask Kate at Get-Your-Best-Mortgage-Rate.com
Dear Tom, Thanks for drawing attention to Yield Spread Premiums.

The YSP issue is the most common reason to lose a mortgage rate lock. Education is the greatest safeguard.

Have you read Yield Spread Premium - Say What? I wrote it to improve the blood pressure of homeowners across the nation!

Here's more on the 20 year fixed rate mortgage too.

I wish you well in your pursuit of the best mortgage rate.

Ask Kate

Click here to comment on YSP Issue.

Click here to ask Kate a question.

Helpful experiences and savvy mortgage tips from other homeowners.

Return to Get-Your-Best-Mortgage-Rate from YSP Issue.

Click here to add a comment.

You can also ask Kate about your mortgage at Best Mortgage Advice Social Networking Hotline.

Recent Articles

  1. List of Mortgage Companies - Kate's Lender Directory

    Jul 18, 18 12:02 PM

    Welcome to List of Mortgage Companies, a professional lender directory for homeowners and home buyers, organized conveniently from Alabama to Wyoming.

    Read more

  2. List of Mortgage Companies in Wyoming

    Jul 18, 18 11:26 AM

    List of Mortgage Companies in Wyoming: Find your best mortgage loans in Cheyenne, Casper, and other Wyoming cities using this mortgage lender directory.

    Read more