Comments on: ING Direct 4.50% ARM

By: Mike M

Mike M — Sat, 14 Mar 2009 01:15:09 +0000

DealMaven -

US Bank – 20 year fixed, 1 point and reduced closing costs, per a deal with my employer. 0 points would have been great, but in my area, the best 0 point rates managed to get were around 4.875 for 20 year and 5.05 for 30…. That 1 point was well worth it if you were planning on staying put for awhile.

By: DealMaven

DealMaven — Fri, 13 Mar 2009 21:23:49 +0000

Mike M: Do tell. Where and when did you get such a fantastic deal? And when you say you didn’t pay “anywhere near those 2-3 points” does that mean you didn’t pay any points?

By: Mike M

Mike M — Fri, 13 Mar 2009 12:09:48 +0000

Funny… I managed to grab a 4.375% fixed rate without paying anywhere near those 2-3 points…

By: bankfiesta

bankfiesta — Wed, 11 Mar 2009 22:58:47 +0000

I think if you pay the $750 to change your rate, you lock the rate for another 5 years at the going rate at the time (NOT the 4.5%), so you are exposed to interest rate changes. shared at BF Thanks!