07/26/2021 - Best Mortgage Rates from Big & Reputable Lenders and SD Reviews (30year @ 2.75%, 15year @ 2.25% etc)

Wow. How did you convince Better to actually use Radian for title? I was on a timeline a few days ahead of you up until they ordered title. I sent my processing expert a Radian quote prior to title being ordered, and asked that they use Radian. She instead proceeded ordered title through Better's title company, and a week later, title still hasn't cleared and Better won't confirm if their title company can match the Radian quote.

The difference in title costs in my case is over $1000, as Better's title is charging the full new policy rate, while Radian would charge the reissue rate as my current mortgage is less than a year old.

Everyone knows Loan Cabin is slow and no one pretends otherwise. Loan Cabin provides a great loan estimate upfront, including lender credits, but it takes 2 months to get that loan estimate.

Bayshore Dave is slow and he hides lender credits instead of putting it on the loan estimate where it should be. Dave also took advantage of a poster in this thread with 2.625% on 9/8, when many of us know it should've been no higher than 2.5%.

We're all better off being honest about what each of these companies are doing.

This is a crock.
He did no such thing.
And on 9/8 , probably last time rates were bottoming so why didn't you say some could have gotten the unicorn 2.375%...or 2.25% provided by like 2 lenders who might not be 50 states lending? LOL.

Some people can run around chasing uber low rates but still be in the queue 90days later.

While people like me cut 100bps off their rate & $500 off the monthly & investing that savings.
Took me 2 emails in 36 days to settlement.
Even with not knowing the lender credit until the ICD , how is that any more hazy than all the back & forth you are playing with multiple lenders?

Time = $$$

Pretty easy to see who's cut cost & who still playing games.

Wow. How did you convince Better to actually use Radian for title? I was on a timeline a few days ahead of you up until they ordered title. I sent my processing expert a Radian quote prior to title being ordered, and asked that they use Radian. She instead proceeded ordered title through Better's title company, and a week later, title still hasn't cleared and Better won't confirm if their title company can match the Radian quote.

The difference in title costs in my case is over $1000, as Better's title is charging the full new policy rate, while Radian would charge the reissue rate as my current mortgage is less than a year old.

Since you are allowed to shop around for your title insurance, they have to allow you to do so. On my first refinance with Better, I actually told them I had my own title company after they had already started the process. However, they allowed me to use who I wanted. On the second refinance, they offered me a $300 concession to not change title companies since it was already ordered.

Opinions on if this is the best rate.
Locked with Better and right before closing I FINALLY got a LE from LC.
80% LTV
LC offered 2.75% with $5100 credit
Better countered at 2.625% with $4000 credit, of which $300ish is because I didn't change my title company.
I'm still on the hook to get the $2500 Amex credit. Just curious if I should push for the 2.75% rate. My math shows that it will take about 40 months to breakeven.

Not sure what your issue is with Dave in general but aside from him not responding to people as posters have noted on the forum or at least not a timely expected manner, he has delivered what he has told people and on the contrary has been one of the better priced lender in line with LC rates.


Don't particularly need to speak on Dave's behalf or defend him as the forum members have done so in a positive note and even the person you referenced in your response is countering your own statement so clearly something on your end is amiss....


BTW, I am sure Dave knows what game we are playing here so I am sure he is protecting his bottom line with the credits and your ability to not use him as a shopping point. Other lenders are doing the same but as long as they provide what was promised not much you can do as its not illegal to not provide the credit in the LE as Credit can always go up before you close and you'd be completely legit. Look at my experience with Caliber as they messed up and did NOT provide the credit from LE to LE.


A poster posting a rate and for you to come in and say he/she got taken advantage of is absolutely baseless and you clearly do not understand how any of this works on Slickdeals or on Bogglehead for that matter. Any lender can provide you whatever rate they can and its still on you to gauge if the deal is good or not as the Lender is in it to make money and not not offer community service. That's where the ability to Price Match and negotiate comes in and by that measuring stick you should be calling the FBI on Better with their rates and credit offerings before PMs .

I haven't had any communication issues with Dave. In the same respect I have been looking around but haven't played him against other lenders. While I would like to find the best rate and also credits, I also don't do refi's as a hobby like some in this thread. I started looking back in March... right when the world collapsed because of Corona and nothing came of it. I then went to my credit union in July to do a Home Equity loan at 4.25%, which then moved to a refi cash out at 3.25%. Someone led me to Dave on 9/2 who sent me an LE with 2.625%. He gave a discount in A which matches the CU. The CU was a little lower in E (Taxes) since they are a non-profit, but everything else was about the same +/- $10 or $20 which I'm not going to waste time over. The savings from 3.25% to 2.625% outweighed any differences in the closing costs. The only concern is the excess escrow being taken in F & G which is my money going to T&I... which I have to pay no matter what and it's not going in someone else's hands - but I want to handle my own T&I with no escrow.

The only other question is the fee for the credit report in Section B. Average credit report fee is $40 on LE's, Dave's is $195. Normally that's an estimate and I would have already paid a separate fee for the credit report directly, but I haven't been charged separate. It's probably the only thing that I will fight on at closing if they want to take $195 for a credit report from the bottom line of cash to borrower.

So, our timeline...

9/2 - Initial email to ask the basics @ 5pm. Dave called around 7:30pm. Discussed a few details but I was in the middle of something. Setup callback on 9/3.
9/3 - Dave called about 10am. Continued discussion and questions. I asked for LE.
9/4 - Disclosures and LE sent to sign
9/7 - Asked questions about LE and signed disclosures
9/8 - Asked more questions about LE
9/8 - Uploaded requested docs
9/13 - Appraiser came to house (had to pay for separate appraisal from the CU)
9/23 - Appraisal came in at $225k so 80% LTV would only be $180k - Dave sent an appeal
9/24 - Appeal came back at $235k - loan is now $188k
9/30 - Updated docs sent for loan amount change and locked in rate 15yr @ 2.625% (lock exp 10/26)
10/1 - Emailed Dave to ask questions about new LE
10/1 - Signed new docs. Title company is Radian, but I'm shopping Title costs with others.
10/14 - Email setting up schedule to close for 10/21
10/15 - Called by signing agent to confirm 10/21
10/16 - Called by notary to confirm 10/21
10/21 - Date for signing set.

Good communication from Dave throughout with no BS.

Normally I would definitely want to go up to 2.75%, but Better has a max lender credit of $4999. So if you bump up to 2.75%, you can only get $1000 more. Use that for your breakeven calculation; my guess is that the breakeven will be less than 40 months.

You may still want to bump up the rate if you think you are likely to refi again soon. But it is not as clear cut.

who did you end up going with? I just got my amex $2500 so I am ready for another refi round.

Better

I've gone to 6 different lenders before locking with 2. I'd suggest you reach out to more lenders. As you saw from my post, the whole refi lenders search took me at least 30 hours total

Yea, i dont understand the OPs issue or question either as you ARE allowed to pick you own Title company. They/Better might already proceed with their Title company but you can tell them that you want to pick you own.



Depending on when you inform them might make a difference as if its too late in the process you risk having to extend the rate lock and be on the hook for the charges.


Better as the above posted noted is a lender that is in the Radian system already so telling Better that you are using Radian is all it takes to switch to Radian Title. Other lenders you'll have to check with Radian as they are not taking any new Lender who is not already in their system.


Shahhere

I have applied for 8+ lender. Non of them came close to 2.5% no cost that LC offered. My point is that it looks like LC is the only lender that will offer such term but they are super slow. Is there anyone else that is offering close that. The next best offer seems to me is 2.75%, no cost on 30 years as what read out there in this thread.

Have you tried asking another company to match LC, i.e. Better?

The only other question is the fee for the credit report in Section B. Average credit report fee is $40 on LE's, Dave's is $195. Normally that's an estimate and I would have already paid a separate fee for the credit report directly, but I haven't been charged separate. It's probably the only thing that I will fight on at closing if they want to take $195 for a credit report from the bottom line of cash to borrower.