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I just bought a home a few months ago, so I went through your process to see what results I got. It offered a 30-year loan at 4.0%. Is that really possible? It
by pjungwir 12y ago
I just bought a home a few months ago, so I went through your process to see what results I got. It offered a 30-year loan at 4.0%. Is that really possible? It also quoted me $2900 in closing costs. I think my actual closing costs were more like $10k! If so, I wish your app had been around 6 months ago. But I'm skeptical you could actually deliver on that.
Also, as a self-employed freelancer, the paperwork to qualify for a loan was immense. If you can reduce that, that'd be awesome too.
- jafridi 12y agoSorry you had to go through the hassle when you went through the process. The rates that you see on the site are 100% real, and we do our best to quote the most precise fees – however, fees do vary from area to area. We also don't charge a percentage of the loan amount, since it doesn't make much sense to charge more for a $300,000 loan than for a $100,000 loan. Also, as a result of our technology and automation, we're able to pass the savings on to customers.
- pjungwir 12y agoOkay, I was curious enough I got out my paperwork. Looks like my origination fee was a lot higher. But my closing costs also included lots of escrow for property taxes and homeowners insurance, and I guess it makes sense to leave that out. So I don't feel too bad. :-) Congrats on a great tool!
- jafridi 12y agoOk yeah that makes sense. Thanks again for the comment. Let us know when you're looking to refi :)