Are you in the middle of a refinance with loan amount of $125,000+? Is your rate already locked? Here is how to save approximately .50% in fee on your loan.
Background: On Friday 7/16, FHFA (Federal Housing Finance Agency) eliminated the adverse market .50% fee on refinance loans being delivered to them 8/1/21 or after. Awesome! Most all lenders have been charging the fee for delivered loans beginning December 2020.
KICKER: Even though the fee has been eliminated by FHFA, some lenders continue to charge the fee! WHAT?
How to save .50% in fee: If the lender charged the fee and will be funding and delivering to FHFA (Fannie May or Freddie Mac) after 8/1/21, then you should request the lender remove the fee. Demand it. If they say no, threaten to go to another lender. Plus, rates are lower now than ever, so you could get a lower rate with another more ethical lender.
When you want to know the truth about mortgage lending, best loan programs, lowest rates and fees, call 714-310-4162.
Recent review on Google:
“I can’t say enough about Dan Stone. I knew him for several years before actually using him. Then after doing a lot of shopping on our own and just about ready to sign loan documents I remembered Dan and thought I should give him a call. Dan was amazing. Not only was he able to beat our best prior offer but the difference was significant. More than enough to buy my wife a new BMW! And Dan gives back to our community. There are literally thousands of children that are fed because of the many hours Dan donates to the Roosters Foundation. -Marty B.