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Refinancing... wondering if this fee is legit

Posted by sarahmakes6 (My Page) on
Fri, Dec 3, 10 at 1:15

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.

Thanks.


Follow-Up Postings:

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RE: Refinancing... wondering if this fee is legit

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


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RE: Refinancing... wondering if this fee is legit

Ask. And if you believe it's wrong, ask that it be removed and the numbers recalculated.


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RE: Refinancing... wondering if this fee is legit

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?


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