Quote:
Originally Posted by Ecky
If you don't mind my asking, whom did you go with for the refinance?
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Loan Depot
Their loan origination fee is $1595 which is higher than some of the others but the rate was 0.25% less than anyone else. I'm guess the banks with low or no closing costs are offsetting their fees with a higher APR.
It was a bit of a weird process. The more I borrowed the lower the rate. That 2.5% rate started above $200K. We ended up taking cash-out to get above that.
Then there was the loan to equity ratio. If it was 69.5% I had to get an appraisal. At a 70% the appraisal was waived. ??? how does that make sense?
There was also a bit of a car dealership like "take it to my manager" negotiation which was annoying. They started at 2.1 points to get the 2.5% rate. I started at 0 and we ended up at 1 pt.