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Pleasantly Surprised on Mortgage Rate

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  • #31
    Originally posted by drmka26 View Post
    Yeah, I don't think I can negotiate any of these fees. The only consolation is the awesome rate of 1.875%. Yes, I locked it the moment I was offered the rate. The loan amount is 488k (1.6% of that is 7,808) and 8355 is only a bit more.
    Your rate is so good and while the fees aren't great if I were you I'd just take the extra fees as a cost of getting such a great rate. I seriously haven't heard of anything better than 1.875%, not even close.

    However, this idea that you can't negotiate the fees is false. I'm in the middle of a refinance. I was willing to pay what they said the appraisal would cost but then the appraiser came back just before he was about to start and wanted to add $375 to the original appraisal. I said no and made it very clear to the lender that I would walk away (and I'm getting a 2.5% rate on a 30-year). You know what happened? The lender said they would pay the difference in the appraisal fee. So everything is negotiable, but again your rate is so great I'd probably just pay all those fees and be done with it.

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    • #32
      Can you guys PM you lenders? Those rates seem great.

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      • #33
        Originally posted by StarTrekDoc View Post
        2.1 is insane already. 1.875? wow.

        Okay; who's the lender and POC
        I’ll just chime in to say I just closed on a 15-year fixed refinance at the same rate: 1.875%. No points, fees totaling about $2000 ($1k for title stuff, $1k to the state for their cut, no fees to the bank itself). LTV of about 55%. Sebonic Financial is who we used, Jennie Carothers ([email protected]) was our loan officer.

        (Mods, let me know if it’s not ok to post that info and I’ll edit/delete it)

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        • #34
          Originally posted by drmka26 View Post
          See attached. Are these typical fees? This is my first time buying a home so any input is much appreciated. Click image for larger version

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          Processing, underwriting and doc prep fees are garbage. Ask for them to get waived. 3k title insurance seems high.

          Part of these garbage fees is their business model though.

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          • #35
            We used Loan Depot for our 1.875% refi

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