Please add sections to this wiki with useful information about the process, so that people don't have to ask the same questions over and over, or scan the whole thread for answers!
Notary and closing
Here is what you can expect or ask for from my experience:
1. New pen for signing wiped thoroughly
2. Pen stays with you after signing
3. Only material they will touch would be your ID
4. ID would be wiped and returned back
5. Can expect gloves to be worn
6. Signing can happen in your front yard or in your garage
7. If you have a Costco table then you can sit on either sides to maintain distancing
8. Masks might be recommended given new guidelines
9. Plus discuss with the notary!!
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
Amex offer: $2,500 statement credit for home refinance Better.com
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30 year, 2.75% locked, loan costs and taxes paid for by lender credits
No escrow
Loan $500,000
LTV 59%
FICO 699
I wouldn't settle for anything less than 2.75% and no cost, and lock it when you get it. You are getting ripped off anything more than 2.75% and no cost. Apply to 10-20 places, because more than half will ignore you or take too long to get you a loan estimate. Don't believe what anyone tells you, only believe the locked loan estimate. You just need one good loan estimate locked. Don't pester the places that are too slow or ignore you, just move on.
I don't know if Better will beat what I got, but I'll go forward with another lender if they don't.
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510K loan
59% LTV
820+ credit scores
W-2s; no other debts
6/24 - Applied with Better through Amex link and was assigned to "Arnold". I was quoted 3.25% as cost of ~$200 after lender credit.
6/25 - Got an LE from Lenderfi: 2.625% with ~$1000 closing cost
6/29 - Submitted to Better/Arnold, who replied "We won't be able to match their offer." To get 2.625, I would have to pay Better ~$11,000 in points. They also said based on their policy, they don't have to match loans over $500K. "Offer is only valid in states where Better Mortgage is currently originating loans. It includes all loan products on single-family residences, condominiums and PUDs with a loan amount less than or equal to $500,000." So there is no $100 or $1000 if they cannot beat other offers. What's the point of going through the Amex link and then give really high rate quote, forcing you to shop around for a chance to see if they would match. Keep in mind that their rate on zillow was 2.75% for me. Save your time and go elsewhere. And if you happen to get Arnold...run away!
7/2 - Submitted application and LE to Owning who said I have to lock the rate first before they can take it to their pricing desk. I showed them the locked rate LE. Owning said they can only match, which is the same 2.625% and closing cost of $1K (even though they advertise 2.75% & no closing cost)
7/3 - Quote from LoanDepot was 2.875%
7/7 - Received closing documents from Lenderfi. Just wish there is a way for me to get them to waive closing cost.
I dont know if i should lock and then force their hand at a better loan estimate. Loan Cabin is a locked estimate so I am not sure what to do.
Either way with Amex I am ahead but damm man this is frustration as they never responded after numerous emails and calls so it looks like a swing of about $500ish bucks in their favor.
Shahhere
510K loan
59% LTV
820+ credit scores
W-2s; no other debts
6/24 - Applied with Better through Amex link and was assigned to "Arnold". I was quoted 3.25% as cost of ~$200 after lender credit.
6/25 - Got an LE from Lenderfi: 2.625% with ~$1000 closing cost
6/29 - Submitted to Better/Arnold, who replied "We won't be able to match their offer." To get 2.625, I would have to pay Better ~$11,000 in points. They also said based on their policy, they don't have to match loans over $500K. "Offer is only valid in states where Better Mortgage is currently originating loans. It includes all loan products on single-family residences, condominiums and PUDs with a loan amount less than or equal to $500,000." So there is no $100 or $1000 if they cannot beat other offers. What's the point of going through the Amex link and then give really high rate quote, forcing you to shop around for a chance to see if they would match. Keep in mind that their rate on zillow was 2.75% for me. Save your time and go elsewhere. And if you happen to get Arnold...run away!
7/2 - Submitted application and LE to Owning who said I have to lock the rate first before they can take it to their pricing desk. I showed them the locked rate LE. Owning said they can only match, which is the same 2.625% and closing cost of $1K (even though they advertise 2.75% & no closing cost)
7/3 - Quote from LoanDepot was 2.875%
7/7 - Received closing documents from Lenderfi. Just wish there is a way for me to get them to waive closing cost.
I'm should be losing on my 15 year refi here in the next couple of weeks. I am sure my current lender would have been pissed after they did all these steps and I left.
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