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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Loan Depot beat their offer slightly after submitting the Loan Cabin loan estimate. An apples to apples comparison (since Loan Depot charged a $1,595 origination fee) with Loan Cabin is a 2.5% rate with $5,800 in lender credit.
Either option would end up with money in my pocket to go toward escrows.
I've submitted both to Better and hope they can match or beat it.
Loan Cabin: A+B+C is $4,102 with a lender credit of $5,400 (should eventually be slightly less as their listed escrow fee is high).
Loan Depot: A+B+C of $5,907 with a lender credit of $7,421
Better: A+B+C is $3,840 with a lender credit of $4,999. The $2,500 Amex statement credit would be in addition the lender credit.
Given the Amex promo, Better seems like the best offer/option.
I forgot to mention, I initially put in an application and was assigned Arnold. He refused to match an offer of 2.5% with a $2k credit. I put in another application right before the promo was to expire and locked at whatever was offered at 2.5% and sent the competing offer to my processing expert and she has been very quick to respond to me.
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Now when I see the rate sheet I can see 2.5% for 20 yrs with enough credit (1800) to cover the loan costs. What do you guys suggest? Should I lock in and is there more scope ?
The only time I did not send in a title quote was the very first time I refinanced with Better. Once I realized what they were doing, I have since sent the two documents in the same email making sure to mention that I would like to use this title company. If you sent them in separate emails, then there is a good chance the LO will not respond at all to the second email
The only time I did not send in a title quote was the very first time I refinanced with Better. Once I realized what they were doing, I have since sent the two documents in the same email making sure to mention that I would like to use this title company. If you sent them in separate emails, then there is a good chance the LO will not respond at all to the second email
Actually the opposite strategy is what you should follow.
What I mean is that get Better to Match your other lenders but not match you own Title company. All other lenders were around $2200 and Better was around $2294 with the initial estimates.
I use Radian and so the quote I had already received and the pricing that they sent back to Better was $142x so all matches after that would have been compared to that.
Shahhere
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Loan Cabin: A+B+C is $4,102 with a lender credit of $5,400 (should eventually be slightly less as their listed escrow fee is high).
Loan Depot: A+B+C of $5,907 with a lender credit of $7,421
Better: A+B+C is $3,840 with a lender credit of $4,999. The $2,500 Amex statement credit would be in addition the lender credit.
Given the Amex promo, Better seems like the best offer/option.
I forgot to mention, I initially put in an application and was assigned Arnold. He refused to match an offer of 2.5% with a $2k credit. I put in another application right before the promo was to expire and locked at whatever was offered at 2.5% and sent the competing offer to my processing expert and she has been very quick to respond to me.
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