The loan officer I spoke to over the phone attempted to bait and switch me after agreeing to 5.25% with no points on an IRRRL. Documentation was sent over indicating that there was 0.669%~ worth of points, for an additional $1200. I called the guy out and he made up excuses stating it was typical “fee for loans under $250k”. I said that this is intentionally misleading and ghosted him for a day and a half until he conceded, and offered to do the right thing. Paperwork was resent and everything looked proper. All finalized now, confirmed closing on Monday.
ALWAYS DOUBLE CHECK YOUR LOAN ESTIMATE PAPERS.
An additional tip: before signing anything, contact your current lender once you have page 1 & 2 of the loan estimate. They will work to retain your business by potentially matching or even beating the offer. This could save you a little hassle with escrow and such.
Posted by 3mpyr