I can assure you that they aren’t giving loans away.
Some of their fees are high. At the moment, I can offer a buydown to 4.50% on a $417,000 loan for $4378, almost $2000 less than them but I charge more than $1995 as my guaranteed lender fee.
Their closing agent fee + title insurance is $1625, for a refi I can get it done for $1000..
The way I see it, they fool you with a low “lender fee” and get you with high discount points and other fees.
One way or the other, you will pay.
They don’t ask what your credit score is, which is CRUCIAL in pricing a loan. It just isn’t possible to quote someone an accurate rate without knowing their mortgage credit score, and they still need to qualify.
I don’t claim to have the lowest total costs, but am competitive. If lowest price is all that is important to you, pray that nothing goes wrong.
…HLS
