Refi runaround. Vent session in progress.
This is so frustrating. Been working on this since mid-December. Got good faith estimates from 3 sources. Then rates went down a bit more (according to media) so got new estimates - rates down a bit, but closing costs up. One went from no origination fee to now charging one. How do you know what you'll actually be charged at closing. What is a good faith estimate? Do the rates somehow tie to the origination fee? If they go down, are lenders forced to charge it to get the lower rate?
I also don't like to be rushed, so when someone calls at 4:00pm & says you have until 4:01pm (an exaggeration but not by much) to lock the rate, my natural instinct is to back away.
I don't want my frustration to come back & bite me, and I know no one on here has a crystal ball - except maybe Dave Donhoff - but how can you find out what this is really going to cost you & what is a good rate today? All you hear is that rates are going down - but not so today?
Thanks for listening - I feel better now.