It is 2 loans on the same house. One has a low rate and one has a high rate. To draw your attention away from the high rate loan, the lender talks about the "blended" rate if you add the 2 loans together and divide by two. Then the rate sounds much better..
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November 12th, 2009 at 1:49 pm
It is 2 loans on the same house. One has a low rate and one has a high rate. To draw your attention away from the high rate loan, the lender talks about the "blended" rate if you add the 2 loans together and divide by two. Then the rate sounds much better..
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