I am currently shopping for VA IRRRL and got a quote today. This is my forever home and I’d like to get some opinions on whether or not I should pull the trigger. I am excluded from VA funding fee due to my rating. I am hesitant because the guy handling this seems really pushy and gives me a “schemey” vibe. What would you do? Is this too good to be true? What questions should I be asking? Thanks guys!
Original loan amount $589,893
Interest rate 3.5%
Loan estimate from rocket mortgage
Loan amount $596,725
Interest rate 2.75%
Rate not locked
A. Origination charges
Origination fee $5936
B. Services you cannot shop for
Appraisal $570
Credit report $36
Flood determination Fee $11
Flood life of loan coverage $6
C. Services you can shop for
Title-lenders title policy $680
E. Taxes and government fee
Recording fees $163
F. Prepaids
Homeowners insurance, prepaid insurance, property tax $809
G. Initial escrow payment at closing
$4072
H. Other
$0
I. Total other closing costs $3,283
D+I $12283
Lender credits -$9000
Calculating cash to close
Loan amount $596,725
Total costs (j) -$3283
Estimated total payoff payments $593,566
Estimated cash to close from $124
Estimated closing cost to buyer $3159
Original loan amount $589,893
Interest rate 3.5%
Loan estimate from rocket mortgage
Loan amount $596,725
Interest rate 2.75%
Rate not locked
A. Origination charges
Origination fee $5936
B. Services you cannot shop for
Appraisal $570
Credit report $36
Flood determination Fee $11
Flood life of loan coverage $6
C. Services you can shop for
Title-lenders title policy $680
E. Taxes and government fee
Recording fees $163
F. Prepaids
Homeowners insurance, prepaid insurance, property tax $809
G. Initial escrow payment at closing
$4072
H. Other
$0
I. Total other closing costs $3,283
D+I $12283
Lender credits -$9000
Calculating cash to close
Loan amount $596,725
Total costs (j) -$3283
Estimated total payoff payments $593,566
Estimated cash to close from $124
Estimated closing cost to buyer $3159