What is the catch with Cap Center?
What's the catch? CapCenter's Zero Closing Cost offer means that we offer to waive or pay traditional loan closing costs charged by other lenders. There is no catch! We cover the closing costs without inflating our interest rates or adding the costs to the loan amount.
How does CapCenter make money?
As a mortgage lender, Piacentini said CapCenter makes its money through the interest earned on the loans. When they are hired as both the realty and home lending team combined they earn the realtor's commission of 3 percent.
What is point in mortgage rate?
Mortgage points are the fees a borrower pays a mortgage lender to trim the interest rate on the loan. This is sometimes called “buying down the rate.” Each point the borrower buys costs 1 percent of the mortgage amount. So, one point on a $300,000 mortgage would cost $3,000.