this true? I am buying a condo in West Covina, CA. My loan broker told me that in order to issuing a loan, it's required for me to pay 0.5 point, because i am buying a condo or if you decide not to invest the 0.5 point, then the interest rate will go up. Is this true?

points are determined by each individual lender

if they say you have to pay .5 points, it is not optional - you MUST pay if if you want them to lend you the money

you do realize condos are the worst type of real estate investment in the universe, don;t you?

hardest to resell, drop the most in price in down markets, condo fees increase every year