Mortgage Rates...

[Calif. Hunter]

Moosie - in Idaho, are the borrowers required to buy new owner's title insurance when they refinance? They should only have to pay for a new ALTA loan policy.

I get free title, escrow, appraisal, credit, etc. I just had to pay a small loan origination fee. I don't do impounds, so there were no prepays on taxes or insurance.

 

[JoseCuervo]

Moosie - in Idaho, are the borrowers required to buy new owner's title insurance when they refinance? They should only have to pay for a new ALTA loan policy.

I get free title, escrow, appraisal, credit, etc. I just had to pay a small loan origination fee. I don't do impounds, so there were no prepays on taxes or insurance.

Those are all "funny money" anyway. Your money paid every month or paid once every 6 months.

Drives me crazy when lenders waste time talking about money that is going to get put into escrow.

 

[Moosie]

Jose, I HAVE to talk about Prepaids. it's all in the GFE.

Problem is, I'm getting Shopped by people which is OK. Jsut today I had a friend shop me. Which I'm 100% OK with. Problem is, the other banks use these "Numbers" and don't Disclose ...lemme rephrase "Burry" costs in the Loan. I'm all OK with shopping Apples to Apples but when I disclose My fee, the title costs, Appraisal, and Prepaids and other banks don't, I feel a little heat under the collar sometimes

Fortunately some people bring in the GFE so I can Show them. Some people jsut never call back Such is Bizz-nass I

 

[Oak]

Moosie, sometimes there are people out there with bigger and sweeter apples than anyone else.

When we bought our house a little over a year ago, we decided to go to four lenders, despite taking the credit check hits. We had an idea of who we wanted to do business with and who we really didn't want to do business with.

Long story short....our 4th choice actually came up with (by far) the best offer. When I told the young guy at the company that I really wanted to work with about the offer I had gotten at the "other" place, he didn't believe it. I showed him the GFE and gave him the opportunity to match it. He said he couldn't come close, and that we would be idiots not to jump on that deal. Apples to apples, his deal wasn't good enough.

 

[Moosie]

Ohh I know there are Bigger Apples. I will Eat those words Sometime. But it does blow me away with the Amout of GFE's I see that look one way and are actually the other way. Especially from out of state Banks with the Bait and Switch,,,

 

[Oak]

If it makes you feel better, I know few people with bigger apples than you.

 

[smalls]

I'm calling BULL CHIT on the 3k.....

Actually Moosie, you were right, I was blowing smoke as I tried to remember the figures of my GFE off the top of my head. It is actually just under $4500. I could only remember the Origination+ fees and had forgotten about the escrow stuff (interest, taxes, insurance, etc.). I am still waiting for a GFE from the bank we got our original loan from, but am getting a little impatient/pissed off.

 

[elk_hunter]

All this GFE talk is secret code, but I've cracked it...

http://en.wikipedia.org/wiki/Girlfriend_experience

 

[Dinkshooter]

All this GFE talk is secret code, but I've cracked it...

http://en.wikipedia.org/wiki/Girlfriend_experience