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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My LE quote says I can shop for TITLE which is around 1200. Is that alot. Can I shop for cheaper? Any suggestions?
I got approved for 15yr 2.5. A+B+C is $2500 is the total lenders cost.
Please advise
My LE quote says I can shop for TITLE which is around 1200. Is that alot. Can I shop for cheaper? Any suggestions?
I got approved for 15yr 2.5. A+B+C is $2500 is the total lenders cost.
Please advise
Last resort; drop B or file a grievance? File $1000 PM guarantee......
Shahhere
i applied with LoanCabin yesterday but no call back from Samantha yet. today their site is quoting 2.375 but with points.
If you haven't signed anything to pay them then you dont owe them anything legally. They themselves beat other lenders so what do they hope that you wont shop them once they give you a rate? How Unrealistic is this?
The way I see is that many will shop and many will not get a beating offer and so many will close and that's the nature of this, no point for lenders to make some illegal stipulation as it will only hurt their future reputation.
Shahhere
Last resort; drop B or file a grievance? File $1000 PM guarantee......
Shahhere
You got a good rep then. I applied on better.com on 7/9 while their points were still high. Anyway, their view rate site is totally different when you actually applied. I meant by a lot. On view rate, it shows 4K for 2.75, for example. When you applied and selected this rate, it jumped to like 6K (wtf). In my case, it was 9K. Now it dropped down to 6K ish. But I no longer desired 2.75 since everyone else is offered at 2.625 now. Guess what Better.com has for me........... it's $8,700 for 2.625. WTF. They hated me this time around... See attachment for proof.
Anyway, don't settle for less since you guys will or have already put a lot of efforts into it.
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I also see a fee for Land survey
BTW, by law they have to provide the LE once you start the application and provide them with just few info.
BTW, by law they have to provide the LE once you start the application and provide them with just few info.
Anyone willing to help out a refinance rookie?
Better will confuse you with terms like A+B+C, J, etc
Pick the LE that has the Lowest lender credit (usually listed under J with a negative sign) - origination fee (usually listed in A and expressed as a % of the loan amount)
If these are equal or nearly equal across the 3 estimates you have within say a $100 range, look at C (Services you can shop for)
Pick the LE that has the lowest C(unless you have a shopping quote for C from other party in which case C from the 3 LEs is irrelevant- see below). This way Better will not use C as a way to match. C is something that you can shop around later and pick based on the lowest title services you get.
Then there is column E which most people just ignore and probably rightfully so as it is state dependent and assumed to be fixed. However one thing I have found here is that Better's settlement service marks this up a lot. I am not sure if they will continue to use this high value if you go with them as I have always asked them to match C+E.
Finally when sending to Better for a match it is always best to send the competing lender offer and if you are sure that the competing lender is using inflated values for C, then send a title quote for C from a 3rd party title company that has a more accurate and reasonable title quote along with the LE to match. If you do not do this, then Better will jump on it reduce their C and say they have matched without bothering to really match the (Origination-lender credit) in full. The reason why this is important is that several companies like Loancabin give highly inflated numbers for C which even even in their own words they are doing just to protect themselves as the rules prevent them from giving a low number for this column and exceeding it by a certain threshold. On the other hand if they give an artifically high number, then they can always lower it. It also helps Better to see those high numbers in C because they reduction done is not really in loan costs but in the title fee which you would get anyway if you shopped around.
Started talking about how everyone is giving him the run around and how he had kids and works on commission
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I guess I was too fast to send the first one from HighTechLending to Better.
First one was from HighTechLending is 2.25% on a 15 year refinance with (A+B+C=D) = ($995+$530+$1698=$3223) with $464 in lender credits. Did not lock with them. Submitted application Monday morning and they got back this afternoon. 2.375% has a slightly higher lender credit at around $1400.
Around the same time or a little later I received the LE from WM. But this was only after locking with them yesterday. Otherwise they refuse to provide a LE. Application was submitted Monday morning after calling the number on their website. Very quick and responsive. I would say the best of the lot. Their rate is also very competitive or I would say the best from what I have seen so far.
Second one from WM is also 2.25% on a 15 year refinance with (A+B+C=D) = ($1499+$954+$1411=$3864) with $1501 in lender credits. I then had to email this LE estimate as well to Better.
On 7/20 I received a LE from WM prior to locking without including the lender credit. This is what I had submitted on 7/20 to Better mentioning they are also giving a $1501 lender credit. But he wanted the LE to include that as well to match/beat. Since then I have sent couple of emails and also the above 2 LE's today. No response. Also tried calling them. But could not reach him or anyone from his team. So, just have to wait to see what they come back with.
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