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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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| Why don't you ask them what it's about? |
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| Ask. And if you believe it's wrong, ask that it be removed and the numbers recalculated. |
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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? |
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