Why is the mortgage lender putting me off? I spoke with him about a re-fi due to a 5yr. arm going up
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I have over a year to wait until this happens but since int. rates are still reasonably low, I wanted to check my options. At first he's telling me to wait, I told him I didn't want to wait in case rates go up so asked him to tell me what he found out. It seems he can lock me in at a decent rate for 30 yrs. & I will be paying less per month than I am right now?? What's up with this guy?? Is he too busy to deal with my loan?? Please no soliciters of your mortgage business, just looking for insight please?? Should I not trust him now?
Why is the mortgage lender putting me off? I spoke with him about a re-fi due to a 5yr. arm going up in int.?Find someone else.
If he isn't gung-ho for your business, there will be 100 others right now that will.
I highly doubt he's too busy, no one in mortgages is too busy in January to take on a new client. So this guy is a flake. Dump him and get another.
Why is the mortgage lender putting me off? I spoke with him about a re-fi due to a 5yr. arm going up in int.?I concur with the above. Dump him. That being said, there are situations when you should wait. Keep in mind that mortgage brokers, banks, lenders, etc. do NOT make money if you do not do a loan with them, so I am VERY curious as to why they would say that. I would tend to have some trust b/c they are NOT trying to sell you anything.
I know with many adjustable rate products (although if you have great credit, you shouldn't have gotten into this) there is a pre-payment penalty. These are often VERY steep up to 5% of the the oustanding loan amount. This is the only thing I can think of that would make it NOT make sense.
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