What is a yield spread premium?
Compensation a lender pays a mortgage broker to sell a loan with a higher interest rate. Unless a borrower pays an origination fee for a mortgage loan, they most likely will pay a yield spread premium (an interest rate above the market rate). The yield spread premium is listed on the Loan Estimate and Closing Disclosure. Yield spread premium isn’t always a bad thing for the borrower because it reduces the upfront costs of a loan. Review all documentation before signing any contracts.
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Contact Us
1455 W 16th Street, Yuma Arizona
Call: 928-446-3019
Email: [email protected]
Office hours:
8 a.m. to 5 p.m. Closed 12pm-1pm Monday through Friday
Open Saturday and Sunday by appointment
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