I am looking at loandepot or better.com for refinancing my home loan and wanted to see what I can expect out of this process. Can anyone share their experiences please? Also, how much time I can expect this to take if all goes well? #mortgage #housing #refinancing
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Shop around, your gonna have to play them against each other. I finally reached a deal with loan depot for a 30 year at 2.875, no points or origination fees. And they covered the appraisal. But it took awhile to get there
How much time did it take? And how difficult was the experience ?
I kept shopping even after agreeing with them and having my appraisal. They matched and beat everyone but it requires a written estimate. It took me about 4 weeks, but I had 800 credit and an LTV of 75% - know your worth. The MBS machine needs to keep running so they are looking for qualified people to fill those products. I just was transparent with them that I was shopping for the best deal possible. Avoid quicken or rocket mortgage, those guys are complete idiots