Back to Results
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
I would go with the LO I trust, I have to agree with those who feel the same. Go with the 1st bank, seems like they gave you a decent deal, maybe not the best, but certainly not the worst.
Sound like funny math. The loan with the lowest effective interest or Annual Percentage Rate (APR) will reflect the lowest total cost of borrowing. Closing costs are nothing more than prepaid interest. Interest is the cost of borrowing. APR includes closing costs and the interest rate. Also, ask the lender about the Yield Spread Premium. YSP is compensation the investor (who funds the loan) pays directly to the loan officer outside of closing. If the lender fails to disclose the YSP, then find another lender.
I would suggest doing business with Bank 1. Bank 1 offered an initial fair offering which is a character trait of the LO. Bank 2 tried to take advantage of you by offering extreemly high initial fees hoping to take advantage of your ignorance and is trying to backpedal to a fair offer when found out. The LO of Bank 2 is not generally someone you want to do business with. You have little protection against being taken advantage of again and know they are the type of person to try. $500 difference on a mortgage is peanuts.
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $519,000
For Sale: $519,900
For Sale: $1,549,000