Good day!,
I applied and got approved for a specific mortgage loan at a fixed rate (under the terms of the loan) this loan's interest rate is a set rate so long as you are minimally qualified. The red flag on my paper work is a Discounts Points section for 1% of the loan amount. Why would the lender add a Discount Points section at 1% of the loan amount to my closing costs? I never requested to buy down the rate and I can't figure out why I would ever need to on this type of loan.
About the Borrower - Squeaky clean credit, all my ducks in a row.
Have any of your heard of this before? I did not request to buy down the rate and there is no literature in the loan terms that say anything about different interest rates being approved. Its all one rate for everyone.
Have any of you had this happen in your closing costs, maybe with some other fee that made no sense. Did you move on to another lender or talk it out with the current lender?
I understand the easy answer is to ask but should I consider trust as well with who I pick as a mortgage lender? 30 years is so long and I just want to make sure its the right fit for that kind of time line. Maybe it doesn't even matter.
Looking for guidance/wisdom. Thank you.
Submitted October 14, 2021 at 09:01AM by Smooth-Computers https://ift.tt/3p2ubcY
