I passed on Sebonic. The broker that contacted me was convinced that ‘it was against the law’ to do loans above the conforming limit in San Diego county due to COVID. He told me his system wasn’t even able to price a loan above the conforming loan limit of $510,400! Plus, he was trying to wrap in $10,000 in fees in the loan estimate for a cash-out loan even though I explicitly asked for his best no points, no fee rate!

I ended up using my local broker buddy again and got a 2.75% 30-yr fixed, no points, no fees limited cash-out refi. I’ll try again in six months for a full cash-out refinance. No one I called was offering anything reasonable in rates for a cash-out refinance at this time.