I'm going to quote glp twice! Here is the info that I found from before, thanks to glp... Question: what is T.H.E.? I didn't see it on the preferred lender list, nor was it listed on the link for the lender lists online.
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in the end, they are all more or less the same. they are all for profit companies and as such none of them are going to be substantially different than any other. the different offers are really just a marketing ploy to create artificial product differentiation. i chose t.h.e. bc their terms seem to be as good as anyone. i dont like the lenders that require like 3 yrs of on time payments to receive some kind of incentive. long story short, as long as you pick a no-fee lender, the long run difference in lenders is going to be very small.
Originally Posted by glp
here is what i figured are the cost of each program given you meet all the on-time payment goals. the osla and chase classic programs say no origination fees but are not clear as to whether there is a 1% guarantee fee. long story short, chase classic or OSLA might save you some money in a 10 yr plan but to get all of chase's benefits you must pay on-time 48 straight months and use ach direct payment. so T.H.E. it is for me.
Assumes $175,000 principal balance at repayment (a guesstimate of what i will owe)
Lender Total Cost 10 Yrs Total Cost 20 Yrs Total Cost 30 Yrs
Medloans 229,849.85 297,210.17 368,624.62
T.H.E. 223,700.54 267,973.55 302,891.70
OSLA 223,177.83 276,907.92 324,829.32
Chase Clas. 221,485.92 266,767.80 316,347.48
I calculated the footage based on the floorplans on their site and it looks like that townhouse is only 728 sq ft... for $741/mo...
