Min. Buy up Pricing for Freddie Mac Loan?
Agency Lender is providing rate on property and is stating there is a "minimum buy-up pricing of 1.0%", and can range as high as 4%. Would appreciate someone breaking this down for me.
I feel sorry for the analyst who sent that out...
?
Hahahah, I’ve worked with a few who’ve done that... and sent the wrong commitment to the Borrower explaining servicing and CME credits. Ouch
GLCRE hahah dude
"Points paid by a lender to a borrower or mortgage broker for a loan with an above-market interest rate.
Read more: Buy-Up https://www.investopedia.com/terms/b/buy_up.asp#ixzz52om2SuEX
"A yield spread premium (YSP) is the money or rebate paid to a mortgage broker for giving a borrower a higher interest rate on a loan in exchange for lower up front costs, generally paid in origination fees, broker fees or discount points."
https://en.wikipedia.org/wiki/Yield_spread_premium
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