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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: Marvel2017 on September 23, 2016, 08:14:59 AM

Title: PenFed vs Aimloan for cash out refi - question about PenFed
Post by: Marvel2017 on September 23, 2016, 08:14:59 AM

I've applied with Aim loan, but just found PenFed so want to apply with them as well, but when I go through the online process there is a part about having to give a credit card and that I would be responsible for certain (unnamed) charges they incur during the process if I am denied or the loan doesn't close. I don't anticipate being denied but my goal in applying with PenFed is to compare to Aimloan for the best rate. I'm in top tier credit, assets, etc so want the best rate.

I figure now is a good time with the rates just dropping a little and pending Fed increase by end of year from what people are saying so I'd like to get something locked in soon. Thanks!

Title: Re: PenFed vs Aimloan for cash out refi - question about PenFed
Post by: arebelspy on September 23, 2016, 07:38:10 PM

I don't see a question in your post.  :)

I'm assuming you mean to ask what type of charges they do?  Why not ask them?  It's likely related to pulling your credit and/or doing an appraisal.

Title: Re: PenFed vs Aimloan for cash out refi - question about PenFed
Post by: sirdoug007 on September 23, 2016, 08:05:45 PM

Their best mortgage rates are advertised here: https://www.penfed.org/Compare-Mortgage-Loans/?mboxSession=1474682585541-277016

The card is for cash outlays they make before closing such as an appraisal or credit check as arebelspy mentioned.

In my experience if you have a >700 credit score you are a pretty good chance to get their advertised rate.


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