Some Frequently Asked Questions...Answered

payment. The over extended credit also reeks havoc on marriages. Divorce and foreclosure are definite hazards caused by the additional stress. I do, however, realize that America is a materialistic society and I, alone, can not change that. At the same time, I recognize that you are only trying to sell your house. As cruel as it may sound, the reality is that you really shouldn’t care whether or not the buyer is over extended. If paying a point means money in your pocket, by all means, do it. If a lender is willing to lend, let it rest at that.

A point, usually one percent, is such a small amount, right? you may wonder why that one point can make such a big difference. It decreases the qualification criteria for the buyer enabling them to afford more of a house. The less the interest rate, the less the payment, the more the house they can afford. It can mean the difference between being able to afford your house and not.

Take, for example, a baseball game. One run, or one point really isn’t all that important in a 10-0 shutout, but one run in a 4-3 game is the difference between winning and losing. That one run becomes very critical at that point. By comparison, one point can be the pivotal issue on qualifying to purchase your

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