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/u/blakef223
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Hey everyone, shopping for a mortgage as we have a signed purchase agreement and are past the inspection phase.
My initial pre-approval was through a local lender my realtor recommended and they told me they would beat/match anything I bought forward when shopping. They initially came in quite high on the rate and on loan fees so I shopped around got a loan estimate from another lender, they said they would beat the other offer and sent me an updated LE.
The updated LE had mistakes in it and didn't match or beat the other offer, after talking with them on it they said they would be able to beat it but wouldn't have enough time to update the LE so they wanted me to sign the intent to proceed with the non-competitive LE and they would get it updated the following morning. We're now more than a day after I signed and I haven't received an updated LE(ive asked multiple times) and I've got the other lender on the hook asking when I'm going to sign their intent to proceed.
I'd prefer to go with this local lender just to help out the guys in town but this is already stressful and I don't want to move forward if they aren't able to be competitive.
Am I being unreasonable in thinking it shouldn't take this long to update an LE? Should I just go with the other lender who I've had a mortgage with prior?
What would y'all do in my shoes?
Thanks
submitted by /u/blakef223
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Is My Potential Lender Jerking Me Around
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My initial pre-approval was through a local lender my realtor recommended and they told me they would beat/match anything I bought forward when shopping. They initially came in quite high on the rate and on loan fees so I shopped around got a loan estimate from another lender, they said they would beat the other offer and sent me an updated LE.
The updated LE had mistakes in it and didn't match or beat the other offer, after talking with them on it they said they would be able to beat it but wouldn't have enough time to update the LE so they wanted me to sign the intent to proceed with the non-competitive LE and they would get it updated the following morning. We're now more than a day after I signed and I haven't received an updated LE(ive asked multiple times) and I've got the other lender on the hook asking when I'm going to sign their intent to proceed.
I'd prefer to go with this local lender just to help out the guys in town but this is already stressful and I don't want to move forward if they aren't able to be competitive.
Am I being unreasonable in thinking it shouldn't take this long to update an LE? Should I just go with the other lender who I've had a mortgage with prior?
What would y'all do in my shoes?
Thanks
submitted by /u/blakef223
[link] [comments]
Is My Potential Lender Jerking Me Around
Continue reading...