Mr Mortgage: Mortgage Rates Soar

[an]

[quote=bob2007]AN, do you know what they are charging for a Guaranteed Lending Fee on 417k?[/quote]
Based on the GFE, here are their fees:
AimLoan.com Fees
Guaranteed Lender Fee $1,995.00
Guaranteed Discount Points $6,563.58
Total AimLoan.com Fees $8,558.58
Third Party Fees
Guaranteed Appraisal Fee $300.00
Closing Agent Fee $975.00
Title Insurance $650.00
Recording Fee $65.00
Total Third Party Fees $1,990.00
Required Advances
Interest Due at Closing $781.88
Homeowner’s Insurance Premium $1,375.00
Insurance Escrow/Impound Deposit $229.17
Property Tax Escrow/Impound Deposit $2,333.33
Total Required Advances $4,719.38

This is based on a 417k loan and a 550k purchased price.

[bob2007]

Thanks, this seems like a good site.

[bob2007]

Thanks, this seems like a good site.

[bob2007]

Thanks, this seems like a good site.

[bob2007]

Thanks, this seems like a good site.

[bob2007]

Thanks, this seems like a good site.

[HLS]

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

[HLS]

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

[HLS]

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

[HLS]

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

[HLS]

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

[an]

[quote=HLS]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[/quote]
HLS, my posting about aimloan wasn’t me trying to take anything away from you. It’s just an easiest/quickest source for me to get some rough data. with this data, I disprove the OP claim of rates are at 5.5% with 1 points. Obviously, if one are looking to buy, one shouldn’t base solely on forum’s comments. My quote was with the best credit scores. It’s a definitely YMMV number.

[an]

[quote=HLS]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[/quote]
HLS, my posting about aimloan wasn’t me trying to take anything away from you. It’s just an easiest/quickest source for me to get some rough data. with this data, I disprove the OP claim of rates are at 5.5% with 1 points. Obviously, if one are looking to buy, one shouldn’t base solely on forum’s comments. My quote was with the best credit scores. It’s a definitely YMMV number.

[an]

[quote=HLS]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[/quote]
HLS, my posting about aimloan wasn’t me trying to take anything away from you. It’s just an easiest/quickest source for me to get some rough data. with this data, I disprove the OP claim of rates are at 5.5% with 1 points. Obviously, if one are looking to buy, one shouldn’t base solely on forum’s comments. My quote was with the best credit scores. It’s a definitely YMMV number.

[an]

[quote=HLS]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[/quote]
HLS, my posting about aimloan wasn’t me trying to take anything away from you. It’s just an easiest/quickest source for me to get some rough data. with this data, I disprove the OP claim of rates are at 5.5% with 1 points. Obviously, if one are looking to buy, one shouldn’t base solely on forum’s comments. My quote was with the best credit scores. It’s a definitely YMMV number.

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