Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for user7967135

FHA Streamline

I am looking at a streamline with my current lender. I have received 2 quotes in 2 weeks, "Rates change daily." I will receive an escrow refund on roughly $1600. the difference in the 2 worksheets is marginal except for "Lender Credit"?? one is -6189.90 the second is -5604.00 a difference of $585.9 bringing my cost at closing to $2439.54 and $3025.00 I am honestly confused as to why there is such a significant $$ amount added with all relevant numbers being the same???
  • January 14 2013 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Rates do change daily, in a situation like this, I suggest going with whomever offered you the better service upfront and that you feel the most comfortable with. A $500 difference usually isn't significant enough to  substitute for superior service. 
  • January 28 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Until you lock you will see that type of shift frequently, you can think of it in some ways like watching the price of a stock from one day to the next.    If you are happy with your overall transaction being offered it is generally a good idea to request your lock early in the process so you aren't subject to fluctuation.  
  • January 14 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Rates do change daily sometimes even more than once a day and while on a given day the rate may not change, the pricing almost always does and that effects the lender credit that is given.  What are you being offered.  For the most part there is enough in the pricing to cover all the costs.
  • January 14 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.