Difference between rocket mortgage and a good, local mortgage lender is that we’re gonna remind you about those updated docs we need the very last minute and keep you in the fold. Your loan will get much more attention than their general population. I thought about using rocket mortgage but ended up preapproved with sofi, local lender and wells fargo, ended up going withe wells fargo as they offered the best deal.
As a first time home buyer and a first generation home buyer, i was absolutely lost when it came to the purchase of my first home Fyi rocket mortgage has a dedicated relocation team that only deal with people moving using a relocation package from their employer Like many other clueless individuals, i turned to google to begin my mortgage lender search
So, i caved and went through their pre approval I am currently under contract with a closing date at the end of october Rocket gave me the best rates (conventional, 6.75% using a 1pt buydown) and similar closing costs to the other guys. While i'd love to save on mortgage interest, i'm wondering what the catch or motivation is for rocket mortgage
Is this a loyalty program to prevent me from refinancing with a competitor It doesn't feel scammy, but why would they bother with this refi so soon after closing on the first mortgage? The past line has been adjusted upwards by having deleted mortgage account, and linking it anew caused it to show a massive drop in my net worth as of now instead of adjusting the past values back downward How do i make it apply the mortgage history retroactively to the net worth graph??
Now this is my first time doing this and at first i was happy my mom was able to get a 2.75 for a 15 year But looking at the loan, it shows that 2.5% of discount points were added Does that mean the original interest rate was 5.25% It’s costing nearly $7800 in fees😅 i need some advice.
Rocket mortgage is a reputable online lender, but they may not be the best option for an fha buyer $5k is a good start for closing costs, but make sure you factor in other upfront. Rocket mortgage is a great lender but they charge really high rates through their direct to consumer channel To them, they want to use their brand to increase margins.
