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Looking to refinance your home? If so, there are a few important things you want to look out for. Don’t settle for just any mortgage lender. Compare all the factors: rate, fees, service and the cost to obtain the loan. Just like with your original mortgage, there are closing costs associated with refinancing your loan. Compare your closing cost to the amount you would save if you refinanced; if the closing costs are higher, then it will not make sense for you to refinance no matter how low the rate is.
Whether you are purchasing or refinancing, your loan officer should lay out all your options and do what is best for your financial situation. Foothill puts your best interest first. Our loan officers will take the time to understand your personal financial needs and provide you with a loan program that will help you achieve your goals.
| Foothill FCU |
Bank of America | Wells Fargo | |
| Origination Fee (points) | N/A | 1.375% | 1.000% |
| Underwriting | $250 | N/A | N/A |
| Document Preparation | $175 | N/A | N/A |
| Total Lender Fees Collected | $425 | $2,750 | $2,000 |
| Survey as of December 10, 2010 | |||
Some lenders will charge an origination fee (points) as part of their lender fees. One point is equal to 1 percent of the loan amount. FFCU charges a flat fee, regardless of the loan amount. The above example is based on a loan amount of $200,000.00.
Trust our professionals at Foothill Federal Credit Union. Call Nellie today at 626-445-0950 ext. 6237 or start your mortgage application online.
