Loan Advice needed–Bait and switch from broker?

[JBurkett19]

If you feel like your broker isn’t answering all of your questions to your satifaction, then you should probably find another broker. I’ve been in your siuation, and there’s nothing worse than a broker that takes the wrong tone, or doesn’t take the time to understand and answer your questions.

As a side note- HUD-1, GFE’s and all real estate transaction documents for that matter, are intentionally deceptive. Unless you deal with them all of the time, it takes a minute to understand what you’re looking at. That’s why, in part, a good broker can be an asset.

[ucodegen]

What LTV (loan to value) are you financing at?
Is there any cash back on the financing? (increases the interest rate about 0.5%, no matter how little you take on cash back).

[ucodegen]

What LTV (loan to value) are you financing at?
Is there any cash back on the financing? (increases the interest rate about 0.5%, no matter how little you take on cash back).

[ucodegen]

What LTV (loan to value) are you financing at?
Is there any cash back on the financing? (increases the interest rate about 0.5%, no matter how little you take on cash back).

[ucodegen]

What LTV (loan to value) are you financing at?
Is there any cash back on the financing? (increases the interest rate about 0.5%, no matter how little you take on cash back).

[ucodegen]

What LTV (loan to value) are you financing at?
Is there any cash back on the financing? (increases the interest rate about 0.5%, no matter how little you take on cash back).

[ljinvestor]

How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi

[ljinvestor]

How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi

[ljinvestor]

How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi

[ljinvestor]

How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi

[ljinvestor]

How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi

[ninaprincess]

ljinvestor,

We will get the keys in March, I guess I will stay with this broker. Our loans are exactly the same except that my rate is 4.99%. Initially I was really upset about the PMI difference ($165 estimate vs. $209 now–and we will pay this PMI for 91 months), but I guess that is a fair cost as I checked on various websites but I wish she would let me know that in the beginning. Adding to that, the bank made an error incorrectly stating the loan amount. But I called her and she explained that will be fixed by the underwriter.

I wonder why your house price and mine are exactly the same in addition to our 10% down. Is it just a coincidence? Is yours also a bank own?

[quote=ljinvestor]How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi[/quote]

[ninaprincess]

ljinvestor,

We will get the keys in March, I guess I will stay with this broker. Our loans are exactly the same except that my rate is 4.99%. Initially I was really upset about the PMI difference ($165 estimate vs. $209 now–and we will pay this PMI for 91 months), but I guess that is a fair cost as I checked on various websites but I wish she would let me know that in the beginning. Adding to that, the bank made an error incorrectly stating the loan amount. But I called her and she explained that will be fixed by the underwriter.

I wonder why your house price and mine are exactly the same in addition to our 10% down. Is it just a coincidence? Is yours also a bank own?

[quote=ljinvestor]How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi[/quote]

[ninaprincess]

ljinvestor,

We will get the keys in March, I guess I will stay with this broker. Our loans are exactly the same except that my rate is 4.99%. Initially I was really upset about the PMI difference ($165 estimate vs. $209 now–and we will pay this PMI for 91 months), but I guess that is a fair cost as I checked on various websites but I wish she would let me know that in the beginning. Adding to that, the bank made an error incorrectly stating the loan amount. But I called her and she explained that will be fixed by the underwriter.

I wonder why your house price and mine are exactly the same in addition to our 10% down. Is it just a coincidence? Is yours also a bank own?

[quote=ljinvestor]How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi[/quote]

[ninaprincess]

ljinvestor,

We will get the keys in March, I guess I will stay with this broker. Our loans are exactly the same except that my rate is 4.99%. Initially I was really upset about the PMI difference ($165 estimate vs. $209 now–and we will pay this PMI for 91 months), but I guess that is a fair cost as I checked on various websites but I wish she would let me know that in the beginning. Adding to that, the bank made an error incorrectly stating the loan amount. But I called her and she explained that will be fixed by the underwriter.

I wonder why your house price and mine are exactly the same in addition to our 10% down. Is it just a coincidence? Is yours also a bank own?

[quote=ljinvestor]How far along are you? Has appraisal been done? You might want to check out aimloan.com and do application online as they are local and pretty easy to work with. They should be able to close in 30 days or less.

I recently used them as a backup on a refi in case my current lender didn’t come through. Their 5% 0pt has low closing costs and payment is almost the same with PMI.

Loan Information February 09, 2011 – 4:25 PM PT
Amount: $405,700
Purchase Price: $450,900
State: California
County: San Diego
City: All
Escrow/Impounds? Yes
Loan Purpose: Purchase
Property Use: Primary Residence
Property Type: Single Family Home
Lock Period: 30 Day

30 Year Fixed Rate

5.000%-rate
0.000%-pts
5.426%-apr
$3,589.57-closing costs
$2,387.50-payment with pmi[/quote]

[Author]

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