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A lender in Phoenix quoted me a 9.1% rate on my cash out refi, then the same guy called back 4 days later at 7.4%
I got the first quote on a Tuesday and almost signed it because I was tired of the whole process. Something made me call two other lenders in Phoenix that same week, and both came in under 8%. The first guy called back on Saturday, said rates had moved, and suddenly 7.4% was on the table with the same terms. Nothing about my house or credit changed in 4 days, he just hoped I wouldn't shop around. Ask for the loan estimate in writing and get at least 3 quotes before you sign anything.
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blair62618d ago
The part about rates had moved after 4 days cracks me up. I had a guy quote me one number over the phone then send a totally different loan estimate in writing that same afternoon. Made me wonder if the phone number was even real.
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