I got estimate one from a mortgage broker about a cash-out refinance about 10 days ago. The rate was 4.75% and I told her that I wanted to hold out for 4.625%. The rate on my current loan is 4.75% and I am only willing to do it if the rate is lower.
I got estimate two about 3 days ago with a 4.625% rate, but many of the fees were higher. I asked her about it and she told me to reference the fees on the first estimate. She claims that she manually entered the fees the first time, but the second time she did a quick "auto-fill" for the fees and that's why they look higher. However, when it's time to close, the fees will be consistent with estimate one.
I got the final loan estimate yesterday and the fees are $800 higher than estimate one. The fees are the same as estimate two, plus a few more higher fees.
I called her out on it and she said it was an honest mistake. I don't really believe her, but she went back and fixed all the fees to be consistent with the first estimate, except for one. There is one fee that is $67 higher than estimate one and she claims that she cannot fix it. However, a few days ago she told me that it was a mistake and she was going to fix it.
I want to ask her to pay for the $67 out of her own pocket. Is that a dick move? I feel like it's a reasonable request.
I'm looking at $3200 in fees and $1800 in pre-paid escrow accounts for a $262,500 loan that is a cash out refi on a rental property. Their lender fees are about $1000 less than other comps. Most people charge at least 1% for the origination fee. Their origination fee is $1600, instead of $2600.