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by satellite2
197 days ago
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Are those really standardized in the US? Where I live the condition vary widely. And basically the switching costs might easily dominate the total costs if you move/sell. I've found that taking this into account it was better to trade a few places in term of interests for better conditions. |
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Patrick McKenzie (https://news.ycombinator.com/user?id=patio11) has a great deep dive on this: https://www.bitsaboutmoney.com/archive/mortgages-are-a-manuf...
Closing/switching costs are certainly a consideration still, but the "Truth in Lending Act" (TILA) made it easier to compare the all-in cost by providing a standardized APR number, which is what the dashboard focuses on.