Refinancing... wondering if this fee is legit

sarahmakes6December 3, 2010

We are refinancing. Our initial Rate Lock Disclosure and Good Faith Estimate list zero Discounts (points) for our rate of 4.125.

After our appraisal, we were able to eliminate a one time fee on the loan and so received new loan docs and disclosures. In comparing them side by side, suddenly we are paying a quarter point for our interest rate, which was locked with zero points prior to the appraisal.

Is this a fee being slipped in hoping I won't notice? Or is there a reason why that might be possible?

I'd appreciate any input.


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Why don't you ask them what it's about?

    Bookmark   December 3, 2010 at 5:05AM
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Ask. And if you believe it's wrong, ask that it be removed and the numbers recalculated.

    Bookmark   December 3, 2010 at 8:27AM
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Is it possible that the "one time fee" was a point or origination fee that was in effect buying your rate down a quarter of a percent? Or did your original rate call for you to escrow your taxes and now you're not?

    Bookmark   December 10, 2010 at 11:47PM
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