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Work For Money
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 smithsussane
Joined: 18 Sep 2008
Posts: 10439
Location: Alaska
985.83 Dollars($)
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jimgilly
Community Expert
Joined: 28 Jan 2010
Posts: 145
Location: USA
36.21 Dollars($)
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Posted: Sun Jul 24, 2011 1:30 am Post subject:
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Everyone should compare quotes with several lenders since there can easily be a wide disparity in rates/fees/terms from one lender to the next and from day to day.
Before you can start making comparisons, however, information such as which state you are in, property value, balance, when you last refinanced and current loan plan/interest rate, new loan term you want (30 year/15 year fixed, 5 year ARM?), middle FICO score (actual score lenders use not freebie or "educational scores" you find all over the internet), do you want to pay any closing costs out of pocket or add to loan amount or cover with a higher interest rate, do you want to esrow taxes/HO insurance, are you planning to take any cash out at closing, is the property a single family home or condo, duplex etc., is this your primary residence and how long do you intend to keep the property? May have missed something but all the above can have an impact on what rates/fees you will qualify for.
Provide this info along with rates/fees from USAA and/or Loan Depot on the same day you get them, I will check a few top online lenders I follow to let you know if they are competitive or not and give you some suggestions on what you may want to do. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12376
Location: bloomfield, ct
58.49 Dollars($)
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Posted: Mon Jul 25, 2011 7:32 am Post subject:
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Very nice, knowledgeable and helpful usually describe (for me) a loan officer who is working on the behalf of a borrower, and it would never make me suspicious - unless it was clear that these traits were as phony as a $3 bill...but then how can you tell?
Yes, Loan Depot has received a number of negative reviews on the forum - I have no clue myself as to their veracity, beneficence, appearance and good looks, but I would be skeptical simply based on the commentaries I've read. Not so much, however, by someone's personal demeanor, knowledge and helpfulness.
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George M. Akerley
Mortgage Underwriter/Consultant
Word of Excellence- Writing/Editing/Proofreading
860-221-5044
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