On Sat, 08 Apr 2017 11:26:03 -0400, wrote:

On Sat, 8 Apr 2017 09:55:00 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/7/2017 9:47 PM, wrote:
On Fri, 7 Apr 2017 11:29:50 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/6/2017 7:43 PM, wrote:
On Thu, 6 Apr 2017 15:41:44 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/6/2017 2:12 PM, wrote:

Lots of rich folks (and businesses) have mortgages that they could pay off
this afternoon if they wanted to.

Oh, hell, I could have done that some time back but why bother?


To keep from having to make a money transfer or write another check.
Even automatic transfers can screw up. And if you are paying interest
at all it is costing you money to keep the mortgage.

Sure, my payment to the power company can screw up, too. So what? The
cost of money is so low, it doesn't matter.

Our builder knocked an additional $5K off the price of our house for
paying cash plus no extra expense for mortgage insurance, or mandatory
flood insurance.

Why did your builder care?

The builder does not have to pay extra points for loan qualification.

Why would the builder pay points on your loan?

Ok, this is getting kind'a silly. Often a builder will pay points to
lower the mortgage or to simply help with the expenses of the mortgage
approval, this happened with our first home. Builders ALWAYS pay points
to close the deal. If your builder did not you were had.

That's absurd. I shop mortgages for myself. Why would I take their
financing?

Anyway here is how our sale went. After negotiating and agreeing to the
the price to build the home the salesman asked if we already had an
approved loan. I said that we intended to pay cash. Well Mr. Leon you
get an extra $5K off of your negotiated price.

If you need further details I suggest you visit DRHorton.com

So the analogy is to take dealer financing on cars? In almost all
cases, that's silly.
It's far from silly when it is at 0% or 0.25%