The first 2 words in the caption above are 1. Rates, and2. Points. How much are they charging? I would assume that an Up Front MortgageBroker would let you know their fees Up Front. Then when you look at Amerisaves rates as posted onBankRate.com as of 1/20 their FHA 30 year fixed rate is 4.25 with an APR orAnnual Percentage Rate of 4.806. What most people dont understand is that APRis much higher because it is calculated based on the true amount of money aconsumer is borrowing vs. The actual loan amount less the fees being charged. Iknow it can be confusing, and that's confusion it is what predators use todistract their prey.in this 1/20 example below the APR is more than apoint higher than the rate. This means the consumer is being charged fees whichare not disclosed Up Front. The only thing Up Front about the Up Front MortgageBroker Award is that the Mortgage Professor has a disclaimer stating he getsPAID by Amerisave.
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