TB… Looking at

[Coronita]

TB… Looking at absolutemortgage’s quotes, how did you manage to get an $11k credit by borrowing $405k @3.125% for 15 years?

Their quote today was better than last week and the week before, but it shows that the are only rebating 1.625 points…

After all the closing costs, the rebate appears to be only $1175.90, and that doesn’t include the appraisal cost of $450…

[img_assist|nid=16156|title=abs|desc=|link=node|align=left|width=600|height=400]

Currently, from their website, I can only see the credit is from the -1.625 point rebate.

*$405k * 1.625% = $6581.25, shown above as “lender’s credit”
*The loan costs $2717
*There’s $2619+69 in third party fees.
*The appraisal costs $450

So the total rebate from the loan appears to only be $726 after all the costs, with a 45 day lock period.

Did you have to do anything else to get additional credits?

Getting $11k in lenders credit with a $405k loan would have been close to -2.7 points back, which is roughly what 3.375% is currently getting. Has rates swung that much within the past 1-2months?

Thanks for the feedback… Trying to make a decision very soon.