All Forum Posts by: Mike Troyke

@Jeff Dulla thank you for the help clearing that up!

When you get points on a loan what you are essentially doing is just paying interest in order to get a lower interest rate and not actually putting money into the house, correct? To me it would seem dumb to do this because you could be getting equity in the house but instead you are just paying down on interest you will be paying anyways. Is this the right way to think about it or am I backwards and by lowering points you overall lower the amount you will end up paying for the house.

Thanks Jake, that was exactly what I wanted to know. I appreciate it!

I just got my first verbal offer on a property for 259k. He had a previous offer on the table for 267k but the buyer wanted to use a realtor and taking a 6% commision would bring the actual net price to 251k. He said he would take his off 3% for the previous offer and drop it  259k and not use a realtor. My question is now as the new buyer am I able to use a realtor without it affecting the price? My understanding is that when buying a property a realtor does not cost you anything. Also is the work a realtor does worth hiring or is it things you can figure out as long as you do your homework. 

Jim Cerami at Cerami Law Firm, he's out in Oakbrook but does business out in St. 

Charles he'd be willing to talk you through some things. http://ceramilaw.com