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Answers (5)
- MagicalHouse
- Contributions:261
Your not obligated, but talk with your broker and see what else he can offer. You can always walk away if you don't like what you hear.
I thought Greg Darlin was boycotting the threads?!?!?!?!
I thought Greg Darlin was boycotting the threads?!?!?!?!
- Mark Wilkins, "TheMortgageMark"
- Contributions:349
Most lenders allow you to lock into that pricing at the time of the lock. So if you cant afford the points. You would be able to take a higher rate but keep the same pricing you locked in at less or no points.
- Ken Kopper
- Contributions:1578
Greg Darlin. HOLY! were you in a coma or something?
- Greg Darlin, "Greg Darlin"
- Contributions:3238
If you ask your broker to lock then change your mind, you are under no obligation at all. However, when you back out of a locked rate, you are really dumping on the broker. Pull through ratios are very, very important in this business: percentage of locked loans that go to settlement.
- Michael Yaeger, "yaegermike"
- Contributions:754
You can have your broker use a different lender that they havent locked with but you may end up with a higher rate.
What points cant you afford? Is this a refinance?
What points cant you afford? Is this a refinance?
unlock -when at 545p (after hours) we asked to lock in a rate..
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