They keep claiming it is to "lock in" our interest rate. What does this mean? Application fee? Does it go towards closing costs? What happens if we decide not to go with them?
2006-12-27 09:56:37 · 5 answers · asked by JenEstes 5 in Business & Finance ➔ Personal Finance
that is basically a junk fee. they are just charging you that because they can. it doesnt cost money to lock in the rate, unless you are buying it down or extending it. tell them that you are talking to another company and they dont charge you to lock the rate and ask if they can waive it.
2006-12-27 09:59:22 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I wouldn't deal with that CountryWide office. I used to work for CountryWide - Full Spectrum Lending we would charge $350.00 for the appraisal fee which in turn would lock in your interest rate. Call this office of CountryWide 1-559-241-3000 and they will be happy to help you. That office of CountryWide will not charge you a lock in fee.
2006-12-28 00:48:48 · answer #2 · answered by Martini Babee 4 · 0⤊ 0⤋
It is their way to gouge you for the 300 dollars. They got you by the short hairs and are going to squeeze you for every drop
2006-12-27 10:05:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It's for their profits. That's the only reason it exists.
2006-12-27 09:58:20 · answer #4 · answered by Johnny Q. 3 · 0⤊ 0⤋
consider it a deposit...and ..ask????
2006-12-27 10:17:53 · answer #5 · answered by blueman2 5 · 0⤊ 0⤋