My mortgage broker quoted me a rate of 2.875% with no points over the phone, when I checked the documents on the web portal the loan had an interest rate of 2.315% with 2.88 points. When I asked about this he said that the lender was having some technical problems and that that was the first estimate and there should be a second estimate with the actual loan terms. He sent a screen shot of just the 2.875% rate showing that it was locked, and said that it was fine to sign the first estimate since it's just a "working document" and can be changed later. When looking on the web portal I don't see a second loan estimate, I've asked him about that and am waiting for a response, but in the meantime I'm wondering how accurate what he is telling me is and if this is commonplace or not?
Edit: I am not asking if I should sign it, there's no way I'm signing something that aren't the terms I'm agreeing to, I am just curious how accurate what he's saying is
Thank you
Submitted October 01, 2021 at 09:06AM by flobbley https://ift.tt/39TIeJh
